Market sentiment is obviously pessimistic, seeing everyone starting to sell on-chain assets and the news of getting liquidated, one can't help but sigh why it's said that surviving long in the market is the most important.

I believe controlling drawdowns or capital management is the most important lesson, but most people only realize its importance after losing everything.

Both offense and defense are equally important, but more people only think about offense and completely ignore defense.

It's like you're walking on a crosswalk and see a speeding car coming towards you, but you bet that it won't hit you, thinking you're relatively safe. However, you don't consider that if the driver is under the influence or can't stop the car, you might pay the ultimate price with your life.

From an outsider's perspective, we also know that this situation cannot be gambled on and is not worth the risk.

But being in the market, people won't appear so rational; they are more influenced by emotions. Only when the speeding car crashes into the front door do they realize it's over!