Lately, everyone’s been going back to look at the unlock calendar—one by one, the details of each staked unlock are written clearly, and then people start to get anxious about sell pressure. How should I put it? The more obvious the expected pressure is, the more easily it gets priced in early. When liquidity is drying up, any big unlock is like pouring water into a pond that’s about to run out—what happens is invisible, and all you can do is watch how long the pond can hold out.

To put it plainly, I think at this stage, whoever is first to rush to “buy the dip” will be the first one to get stuck. The market is like flowing water: once liquidity dries up, nothing moves. Instead of guessing how far it will drop next, it’s better to first put yourself into a posture that can withstand it—keep some cash. After all, in crypto circles, it’s never that people fear there won’t be opportunities; it’s that when opportunities arrive, you might not be alive anymore.

There’s panic everywhere across platforms, but when the direction is unclear, don’t rush to make decisions. That’s it for now—I’m going to sleep.