These past couple of days, my biggest feeling from watching the market isn't whether there's a bottom, but that liquidity is truly thinning: the order book layers are like paper, and slippage is faster than emotions. To put it simply, during times like these, it's better to survive first and talk about bottom-fishing later; don't stubbornly hold your position, cash (or equivalents) is also a position, and it can prevent you from being pierced by a single needle. Outside, people are interpreting ETF fund flows, U.S. stock risk appetite, and crypto price movements together, sounding quite reasonable at first, but then I think it's pretty laughable—most of it is just creating narratives for their own positions. Anyway, I now pay more attention to on-chain/depth data from exchanges and the sense of liquidation; wait until the market sells off all the "willing sellers" before acting, don't rush to be a hero.