To be honest, this wave of LUNC market can't really hold up. The former Luna dropped from 120 to zero, and investors who experienced that death spiral are still bleeding today.

What does being trapped at 13x mean now? Many people have gone through it. Don't be fooled by some voices calling for a bottom now, but the pressure on the market is enormous—those funds that accumulated at low levels back then are still there, and every rebound is their opportunity to escape.

From a technical perspective, this kind of situation is hard to break. The legacy trapped positions are too heavy; even if new funds enter, they must first absorb these pressures. It's unlikely to see any turning point in the short term.

If you also hold positions in LUNC, it's a good idea to review your costs and expectations first. The market always offers opportunities, but not necessarily this one.