The perpetual contract market remains hot, with trading volume steadily increasing, but the token market on the other side shows a different scene. HYPE faces a large unlock window, continuing to be under pressure and trending downward, with obvious selling pressure. This is a typical market divergence—a situation where hot sectors are booming while weak tokens are struggling. In the short term, this pattern is unlikely to change; it's better to stay on the sidelines, let the market fully digest this round of unlocks, and wait for the next turning point signal to appear.