Probably one of the most severe flushes I’ve ever seen on alts, I didn’t even imagine alts had this much leverage in them. It feels like someone got hit very hard and will see a large body float to the surface soon, reminds me a little of summer 2021. Good reminder to myself to own things that I am actually bullish on, and not things I am trying to shift on momentum. Some charts look like they’ll never recover, whereas some things look buyable for the first time in a while. When everyone is making hilarious amounts of money I am always tempted to start using leverage again. It is almost impossible to fight the feeling that you’re not making enough, or everyone else is outpacing you. Good reminder that fighting that feeling and avoid the wipeouts is worth it in the end. Check on your friends, likely a bad day for many. Personally, am concentrating my bags into the things I am happy to own for the next few years, and shedding the fat. Realised I own some assets based on not wanting to miss out, rather than on some actual thesis. Days like today are much easier for me if I think my bags will bounce back, and much worse if I’m losing money owning things I don’t even believe in. Don’t let a leverage blowup dictate your long-term views. The future is bright, good things to come, patience is rewarded. 嵐の後