Note down the current thoughts on $rave

Currently, it is mainly a contract-driven short squeeze.
The K-line is very strong, moving along the EMA21, continuously making new highs, but spot buying has not kept pace.
The main driving force comes from active contract buying, covering, and short squeezing.
Open interest is holding at high levels, with long and short positions alternating, without continuous expansion.
This indicates that in the latter half of this wave, it’s more about “shorts being squeezed further and high-level turnover,” rather than a steady stream of new bulls.
The funding rate is negative, with a long-short ratio of 0.3, showing that there are many short sellers and significant capital involved.
Overall, I think there’s a high probability of a continued short squeeze, and it won’t fall unless the shorts give up, as there is a continuous upward momentum.
If the shorts give up, a sharp decline is also very likely.
Patience and wait to see if these signs appear: price fails to hold new highs, contract CVD weakens, open interest declines,
or the funding rate becomes extremely negative but the price no longer moves upward.