A historic drop exploded at dawn yesterday.
Liquidations amounting to 19.2 billion dollars occurred, which is more than 10 times the liquidations during COVID (1.2 billion dollars) and FTX (1.6 billion dollars).
In such drops, both body and mind get exhausted. From experience, additional trades driven by revenge psychology have often led to significant losses. After markets like this, new narratives tend to receive major attention, so sufficient rest and mental care are crucial to seize future opportunities.
Additionally, as perp DEXes like Hyperliquid and Aster hit successive jackpots, similar copycats flooded the market, and most of them reward maintaining positions with extra points, which might explain why OI stayed so high. Going forward, I have no plans to participate in perp DEXes except those with solid insider info, and I intend to keep an eye on AI infrastructure / RWA / stablecoin sectors.
I hope everyone gets through this well. It’s darkest before the dawn. Opportunities will come again someday.