Just checked on-chain data, and a few major lending protocols’ liquidation lines are again getting close. Honestly, when I’m three steps away from the red line, I’m the most nervous—not because I’m afraid of being liquidated, but because I’m afraid of getting itchy and trying to hold the position. Liquidation lines are like airbags—if they go off, it’s too late to react.

Lately those Layer2 projects have been arguing every day: TPS, subsidies, and all that—so much noise, it’s like a vegetable market. My own noise-reduction strategy is simple: go back to EMA12/26, hold the price while it’s online, and don’t bet on a rebound when it’s offline. Discipline, basically: when everyone else is yelling “buy-the-dip opportunity,” do you have the nerve to shut off the KOL group chat and quietly watch the moving averages.

Anyway, in the short term this market is basically garbage time. Stay farther from the red line and leave some ammunition. That’s it—I'm out.