The order book has been ridiculously thin these past two days—standing orders are like paper, gone with a single swipe… When I notice liquidity has dried up, bottom-fishing—plainly speaking—is basically “don’t die first.” Others think that once the unlock calendar comes out, they can accurately dodge the sell pressure, but in reality, it’s more like everyone is watching the same table and magnifying anxiety into “strike first out of principle.” The same goes for pledged unlocks—rumors get passed around until they turn into “the sky is falling any moment.” I also get antsy and want to jump in, but I’ll still shrink my positions a bit first, keep some ammo, and avoid impulsive moves; being cautious a few times is more dependable than guessing right once. Anyway, my goal right now is to stay alive until the next round of the narrative, then start rolling again.

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