I saw a post late at night saying, “Is it time to bottom-fish now?” I looked through my pile of assets that wouldn’t move, and decided to forget it. The whole “liquidity is drying up” thing, put simply, is that there’s nobody in the market to pick up the bag. You put up a sell order for half a day and nobody pays attention— even the dumping has no drama left, no follow-through, no momentum you can lean on. At times like this, the easiest mistake is getting itchy and trying to catch a falling knife, thinking, “It’s already down so much, surely it’ll bounce, right?” And the result is very likely that you end up catching it in the middle of the slope.

Anyway, I’m pretty cautious right now. I’m first organizing my liquid assets—things I can withdraw at any time go into a cold wallet. As for everything locked, from mining, or staked—forget it, I’ll just treat it as if it doesn’t exist. Lately I’ve been watching the back-and-forth between rate-cut expectations and the US dollar index, and risk assets swing along with it, up and down. But honestly, in this kind of macro tug-of-war, small retail players like us can’t really predict anything. Better to first build a safety buffer for our own positions. Besides, that dusty hardware button I use—now it feels especially comforting. At least no one can remotely drain my wallet.

Oh, and by the way, I’ve also seen another phishing scam doing the rounds these days. It claims to be an “upgrade to a liquidity mining contract” and asks you to sign an authorization. Once you sign, whatever ETH is in your wallet is gone. So now, no matter what kind of link it is, my first reaction is: hang it aside for half an hour, get a glass of water, and then decide whether to click. Survive first—stronger than anything else.