Over the past couple of days, watching the order book feels a bit like an “awkward silence” where nobody answers: the order book is thin, slippage is large, and the moment the price moves, a string of stop-losses gets swept away. When liquidity dries up, I actually don’t want to chase the bottom. Plainly, the priority is to stay alive first—keep your position smaller, use less leverage, and if you can scale in, don’t go all-in at once. Keeping cash matters more than saving face.

Someone complains that on-chain data tools/label systems are lagging and can even mislead people, and I agree with that—halfway. Labels are basically like sticking convenience-store sticky notes on people: being a few hours late or sticking the label on the wrong person is pretty normal. My approach is to treat them only as “hints.” If I really need to make a call, I have to look at whether the behavior of the same batch of addresses is consistent, and whether exchange inflows and outflows match up. Otherwise, it’s easy to be led around by a good-looking chart.

Anyway, at times like this, don’t rush to prove you bought the absolute bottom. First, don’t let the market prove that you can’t hold up. That’s it for now.