$ETH

ETHUSDT

Perp

2,938.21

-0.35%

Let’s look at the broader market first. Overall liquidity is weak, and most moves are being driven by funding rather than real spot demand. Some tokens have almost no natural liquidity at all, relying entirely on aggressive funding to push price action.

If price keeps moving up, that’s fine. If it spikes irrationally, there will still be opportunities to position on the short side with size. Patience matters more than chasing.