The biggest feeling from watching the market these days isn’t whether it’s going down—it’s “there’s no liquidity”… The NFT floor price is posted at a level that looks sturdy at first glance, but when you click in, the order book depth is as thin as paper. If someone really wants to sell, they’ll just smash straight through it. Buyers aren’t in a rush either—when liquidity dries up, no one wants to be the bag holder.

Memes and celebrity shouts are starting to rotate again. Newcomers are the easiest to get carried away by attention; basically, it’s the last-run-game. It’s lively and noisy, but don’t mistake “someone is calling out” for “someone is taking the bag.” (Danmaku: Don’t ask—staying alive is what matters most.)

My current strategy is pretty timid: I shrink positions first, keep a bit of cash, and don’t chase orders. If I really want to buy, I’ll wait until I can sell it later—survive first, and there’ll be plenty of opportunities afterward.