I tried once—when liquidity was at its worst—I insisted on “buying the dip.” The order book was so thin it might as well have been paper; the limit orders looked great, but the moment they filled, slippage came in to teach me a lesson… After that, I remembered this: survive first, then talk about buying the dip.

Now when I see Meme and celebrities get a shout out and the whole crowd rushes in, I can say all the “attention rotation” analysis out loud, but in my hands I’m still on the sidelines with an empty position. Anyway, I’m not taking the last step. When volume steadies back to normal and on-chain net inflows stop drifting around unpredictably, then I’ll consider moving. Otherwise, don’t even give myself the chance to miss out on paying “tuition.”