A 48% increase is seen as a sudden fortune by others, but to me, it's the peak of FOMO.

I admit, I went long.

Opened a 4x short on $BTC, entry price at 62,356, now hanging above 63,625.

Floating loss of 8 points, about ten dollars.

Either stubborn or wanting to bet on a pullback after this rally.

That wave of BICO was really fierce, hitting 48% intraday, emotions skyrocketed.

I was watching the market, with only one thought in mind: such a rally, the next second of overflowing bullish sentiment, will be liquidation and a dump.

And what happened? Still being held up.

This feeling is like standing on the edge of a cliff, knowing the wind will stop, but not knowing if it’s in the next second or the next hour.

Let me share what I see as the key.

There are usually two outcomes for this kind of rally: either it crashes back to its original shape, or it consolidates sideways, shaking out the late bulls.

My position isn’t heavy, so I can hold.

The key is to watch the changes in funding rates and open interest; if the funding rate turns positive and open interest decreases, that’s a sign the bulls are fleeing.

$BTC is still grinding around 63,600 now, and this kind of grind is the most exhausting.

Do you think this rally is a top in sentiment, or the start of a bull market?

Share your thoughts in the comments. I want to see how many of you are waiting for a pullback like me.

Speaking of sentiment peaks, I suddenly thought of the World Cup prediction market. This kind of play is essentially a sentiment game—

When everyone is betting on popular teams, the odds get compressed, and the underdog opportunities become greater.

This is similar to the crypto world: when everyone is chasing highs, you need to consider when to think in the opposite direction. #我的Gate交易时刻 #STRC跌破面值11%创上市新低 #美伊谈判推迟