Lately, watching the market feels like watching the tide recede: the order book is ridiculously thin, and a small slip in slippage makes it clear that liquidity is drying up. Frankly, at times like this, I don’t dare to talk about "bottom fishing"; surviving comes first, reducing positions, avoiding leverage if possible, and holding some stablecoins to sleep peacefully.

If I had been this cautious the last time, I probably wouldn’t have gotten itchy to buy the dip halfway through and then got drained of patience by a wave… Anyway, now I believe more in “not losing big money first.” By the way, it reminds me of the cycle in blockchain games—inflation + studio + coin price spiral. When things are lively, everyone thinks they’re early; when it crashes, you realize liquidity is the only friend. That’s it for now, keep tracking expenses.