Recently, someone has been shouting "buy the dip, buy the dip" again, and it’s starting to annoy me... When liquidity dries up, the order book becomes as thin as paper, and the decline isn’t linear; it’s more like a sudden slip, followed by chain liquidations, making it hard to escape. The pledge unlocks and token unlock calendar being repeatedly mentioned is normal; honestly, what everyone fears is selling pressure plus no buyers. My approach is very simple: first, cut down leverage and positions to a level where I can sleep peacefully, and keep some cash on hand until real panic sets in. Surviving is more important than catching the bottom; anyway, I don’t want to be the kind of person who hits the right direction but gets liquidated.