Over the past couple of days, I’ve clearly felt that the market liquidity is a bit dry—the orders are so thin they might as well be paper. The worst part is thinking you’re “bottoming out,” when in reality you’re just helping others escape while you end up as the bag-holder.

Put simply, at times like this you need to survive first: move less, use less leverage, and don’t stubbornly force-hold your position—keep a bit of stablecoin on hand as “oxygen.” It matters far more than “buying at the lowest point.” I’ve also completely checked out of the whole play-to-earn / blockchain gaming playbook. Once inflation kicks in, studios rush in, coin prices start to soften—and it spirals downward. No matter how hot the narrative is, it can’t stop the reality that nobody’s there to take over.

Tonight, I’ll re-check the authorizations and positions of a few pools. I’ll also tighten the stop-loss lines as I go. That’s it for now.