Just watched the on-chain lending liquidation line for a bit. Honestly, when it’s three steps away from the red line, most people are actually the quietest. It’s not that they’re not afraid—it’s that they feel, “Let’s wait a little longer and see,” and that they can still hold on.

I think what you really should do at this time is prepare in advance: if the price slides one more step, do you add more to your positions or pull out? Put simply, near the liquidation line, what’s most feared isn’t volatility—it’s you not having figured out clearly where your bottom line is.

This is actually a bit like that “wait for confirmation” consensus after the cross-chain bridge incidents over the past two days—everyone waits until the on-chain confirmation makes it safe before they dare to move. That kind of calm is a good thing. In any case, in the market, the few steps closest to the red line are often not for gambling—they’re for checking whether you’re still in your emotions.

That’s it for now.