A rapid, broad, upward movement in financial markets driven by investor fear of missing out on gains, rather than by strong economic fundamentals.
"Some analysts are warning that the current stock market behavior looks less like a bull run and more like a melt up."
The question isn't whether stocks are going up — it's whether this is a genuine bull market or a dangerous melt-up.
— Common phrasing in financial commentary; widely used in publications such as Bloomberg and The Wall Street Journal during the 2017–2018 market rally