#DEX流动性与交易量 Seeing Eugene's move, what flashed through my mind was the 2017 cycle. Back then, the market was similar—every year-end holiday, trading volume would plummet dramatically, and the order book was as thin as paper. I remember a friend of mine went long in mid-December, and during the New Year’s days, a large buy order entered the market and tore through the entire order book. History doesn’t repeat, but it often rhymes.

Eugene is right; the current situation is indeed interesting. Bitcoin failed to break below $84,000 effectively, and this detail is crucial—indicating that the bears aren’t that fierce, mainly because liquidity is too thin. The changes in DEXs and spot exchanges over the past two years have been significant. In 2019, thin liquidity on DEXs was the norm, and trading volume was almost like a hobby; now, it feels similar again. This actually gave me some inspiration.

January is indeed a devilish month. I looked back at past data, and volatility often peaks around mid-January. Now, from late December to early January, with sellers exhausted, large holders watching, and liquidity drying up—this is actually another form of opportunity. However, caution is still needed in the altcoin space; the current downtrend is nearing its end, but the end is often the most intense. Clear stop-losses are more valuable than greed—this is how I’ve survived all these years.