After HYPE hit a new high, buying momentum is fading. http://hl.eco data shows—— After HYPE broke through a new high of $70 at noon today, TWAP net buying volume has significantly decreased. In the past hour, it has turned into a net selling volume of $202,000; projected net buying volume for the next 24 hours is $3.91 million—compared to about $54 million early this morning. From $54 million to $3.91 million, the expected net buying volume has shrunk by over 90%. TWAP reflects the execution rhythm of large funds. The cliff-like drop in net buying volume after hitting a new high indicates that big money's willingness to chase the rally is cooling off rapidly. Prices are hitting new highs, but buyers are quietly retreating—this divergence is worth being cautious about. Hayes' calls are echoing everywhere, but the real money on-chain has already started to take a wait-and-see approach.