Over the past couple of days, on-chain activity has felt like “the tide has gone out—only then do you see who isn’t wearing pants.” When liquidity dries up, even limit orders start looking like props. In an instant, slippage teaches people how to behave.

To put it plainly, in times like this, don’t think about catching a dip versus not catching a dip—think about staying alive first: keep your position size smaller, don’t force leverage to the limit, withdraw liquidity wherever you can, and it’s better to make less profit than to have you swept away by a single abnormal transfer or liquidation.

I also took a look at that whole “attention equals mining” setup from social mining and fan tokens. It’s fun and lively, but when the market starts getting drained, attention doesn’t necessarily translate into liquidity… What I don’t regret is this: every time I see suspicious fund flows, I stop and observe first. If it means going slower, then so be it—after all, it’s life first.