COW has had a brutal run today. It’s currently at 0.117, down -23.16% over 24 hours, with 4M USDT in trading volume, according to live Binance data. The drop is right there, and volume hasn’t dried up, which suggests this isn’t a quiet slide with nobody paying attention—people are actively dumping. I took a quick look at the order book this morning, and the rebound was pitifully weak. The bids were thin: a classic panic-driven sell-off. Don’t rush to call the bottom in a situation like this. The knife is still falling, and jumping in too early just means you’ll be the one left holding the bag. By comparison, SOLV is up +11.86% and ZRO has gained +10.17%, so funds are clearly flowing into stronger coins while weaker COW gets drained. AWE is also down -10.89%, which shows COW isn’t the only one taking a hit—the altcoin market as a whole is shedding excess. The Fear and Greed Index is leaning cold right now, and market sentiment really is near freezing. But that doesn’t mean an immediate reversal; often, things have to grind lower for a while first. I’m keeping my position small and watching, and I’ll wait for volume to pick up and the price to stop falling before making a move. I’ve lost too many times by assuming that “after a big drop, a rebound must be due.” This is just my personal opinion and does not constitute investment advice.