Lately, liquidity has dried up, and it feels like the market depth has been pulled out like a carpet, slipping under your feet and causing a fall.

In the past, I used to insist, "If it drops, buy more," but now, honestly, it's about surviving first: reduce your positions, withdraw what you can, and don't gamble with the market.
I still test new pools for toxicity, but the first thing I look at isn't the story, it's the contract permissions—can I freely change fees or blacklist users—and whether the fund flow is weird, like money coming in and out intermittently.
There are also people constantly criticizing miners/validators for eating MEV and unfair ordering... I complain too, but when it comes to fighting, don't expect the system to be gentle with you.
First, think about your stop-loss and escape routes—after all, there's only one life.