Lately I've been watching a few obscure pools of old protocols, and it feels less like "no one is trading" and more like liquidity has been directly drained. Slippage feels like stepping on thin ice. To put it simply, trying to bottom fish at times like this is a bit too romantic; it's better to survive first: reduce your position, don't fight it, better to miss out than get pierced by a single needle.

By the way, some places are tightening or loosening taxes and compliance, and everyone's expectations for deposits and withdrawals immediately change. The on-chain thermometer is especially sensitive... When emotions tighten, people withdraw faster than anyone else. Anyway, I just think of myself as walking on ice now—when I hear creaking, I stop first, don’t rush forward.