I realize that what I fear most is not losing money, but the floating loss of "not yet lost everything but constantly losing," the kind that I can replay in my mind while lying in bed at night... The unrealized gains are actually pretty good, and then I forget about them. To put it simply, loss aversion really tortures people: gains feel like passing wind, while losses feel like nails being driven in.

Recently, while tracking addresses on the blockchain, I saw the familiar pattern: retail investors complaining about miners/validators taking too much, MEV ordering being unfair, while large funds still calmly queue in and out, acting like nothing's wrong. The "signal" I care about now has changed; it’s not about price fluctuations, but whether those addresses will suddenly accelerate when anxious, or start dispersing into smaller accounts... When they get nervous, I know I’ll be unable to sleep soon too. Anyway, I’ll first get my positions to a level where I can sleep peacefully, or else every day feels like watching a poorly written soap opera.