Too many people showing YTD returns, are we close to the top?

Hello all, I have been in the stock market for not much, almost 1 year so i don’t know historically we experienced something like this but… this year it just seems off to me, all of the high beta stocks, which most of them were getting hammered november december all of a sudden at the start of the year started to rally. Everyone seems extremely bullish with everyone sharing their YTD returns in high beta stocks. This transition from november/december to 2026 doesnt made sense to me.. So i wanted to ask, if a rug pull can eventually happen while everyone turns bullish all of a sudden? Does this ever happen in the markets, a market maker eventually creating fomo with all these high beta names to creatr bagholders. I know it is impossible to call the top, just want to hear your opinions. The transition as i said from december to 2026 felt super weird to me. Thanks.