When it comes to lending and borrowing, once the liquidation line is three steps away from you, it’s really no longer a matter of “wait and see.” I usually first get my mindset steady: lower leverage first before talking about direction. If I can add a bit of margin, I add a bit—but what I more often do is reduce positions or repay part of the debt, so the liquidation price stays farther away and I can sleep soundly.

Lately, the group has been churning out talk about stablecoin regulation, reserve audits, and all kinds of rumors that “it’s about to de-peg.” The more you keep seeing that, the more your hands will actually start to shake... But the more it’s like this, the more you shouldn’t YOLO to add positions and rush to put out the fire—emotion is the most expensive. Forget it—plainly speaking: don’t fall in love with the liquidation line. If it’s close, pull it farther away. I’d rather make a little less than get popped by a single needle. That’s all for now.