Just now in the middle of the night, I was flipping through the address relationship chart, and as I kept flipping, I thought of options... The buyer really feels like they're paying rent for time; each day that passes, that little bit of time value is worn away, and when there's no market movement, all that's left is self-mockery: "Why can't I just wait?" The seller, on the other hand, is like a landlord, feeling comfortable when calm, but honestly, they're just exchanging tail risk for that rent, and if a sudden spike hits, it can be quite suffocating.

Recently, the group has been sharing screenshots about stablecoin regulation, reserve audits, and various "de-pegging" warnings, which instantly amplifies the volatility. Buyers are most prone to get emotional: quickly adding protection or taking a gamble; sellers, on the other hand, need to tighten their grip first and not be fooled by the illusion of "stability." Anyway, what I care about more now is: am I really buying time, or am I being bought by time... Meow.