Tezos makes me smile every morning when i wake up, wondering how long it can keep going up. So with the excitement there will be profittaking as well. We must be aware that there will be a phase of correction/consolidation, retest of support sooner or later.
I guess most people are staking and doesnt have their coins at exchanges, with low supply on exchanges price can move up even on low volume until more people decide that the trading profits are worth more than the pos reward and move fund to exchanges.
However short and medium term will look like, the longer term for tezos is great. This crypto will amend itself based on votes of its holders who have skin in the game. We can see it like an organism which will go through evolution, it might fail sometimes to rebuild, learn and improve. Its really exciting to see how it plays out.