$NIGHT's recent trend appears stable, but there are undercurrents at play. Projects with flat funding like this can easily become a market maker's cash cow, attracting many retail investors to follow suit. The key question is: why is the rise limited?

The answer may be more complicated than you think. If the market maker directly dumps the market, it could indeed create a big pit (remember that -12% drop yesterday morning?), but the risk is too high. A sharp rise is also unrealistic—someone leveraged their position and after a liquidation, the price only rose by 6-7%, which indicates limited market absorption. Therefore, the market maker should now adopt a more discreet approach: gradually raising the price while repeatedly tricking the lines, pulling up while selling off, digesting the chips little by little.

The goal of this scheme is very clear - to exhaust those who borrow coins to chase prices higher, while cleaning out the main chips before certain event rewards are distributed. By then, this market will have completely become a place for retail investors to entertain themselves.

It's advisable to remain vigilant and not be deceived by superficial calmness. Just because no actions are visible in the short term doesn't mean there are no risks; one must be particularly cautious of sudden sell-offs or being trapped in a position. At this moment, the priority should be risk control first.