FOMO is real, many individuals who experienced the high prices of the last zip push have been watching and waiting for price consolidation and a desire to either, cut and run with loss, to buy their way down.
Retail investors chasing APT price desires have watched the BNPL price fall and then begin to return. As such I don't feel the market is ready for a higher high just yet. People will let their money run down and lose profits however after doing so are scared to watch profits run and will sell on any sign of an up push. This is the mentality that forms a cup and handles. I bought and missed outsell just before last ATH and I've broken even, price pushes down however as the market begins to move back up past the previous ATH the real FOMO sets in, I'm going to miss it, buy back in. As such the retail investor goes all-in again driving prices to all-time highs.