$EDGE From 0.6222 all the way down to 0.5403, in the past 24h the amplitude was up about 15%. This round of sell-off volume of 4.85 million dollars isn’t huge, but the drop was pretty straightforward. I saw a few big Vs talking about Alpha sector rotation early this morning, but $EDGE basically gave a reverse textbook. I didn’t see any signs of big whales distributing in size on-chain; it seems more like retail panic orders are trampling each other. The 0.54 level is a previous period’s high-concentration chip zone—if it holds, there’s a rebound; if it doesn’t, then we keep looking for liquidity lower down. In plain terms, the overall sentiment in this track is pretty cold right now. Funds are moving to $BTC and a few top meme coins. For Alpha small-cap tokens, liquidity is already thin—one bearish candle can trigger panic. Fees haven’t clearly flipped negative, which suggests we haven’t reached the peak of panic yet. Don’t rush to buy the dip. At times like this, the worst thing is to chase short positions, and the worst thing is to blindly catch a falling knife.