Satoshi NakaEpstein
In my experience, the least sophisticated participants I’ve encountered in markets tend to be disproportionately concentrated in coins.
There’s a moment in every crowded trade where the smartest move isn’t to add, hedge, or debate narratives.
It’s to step aside.
Right now, the optimal move for anyone without size, leverage, or information asymmetry is brutally simple:
Sell. Flatten. Observe.
But because price discovery is about to expose who’s on the wrong side, and small participants gain nothing by being involved while that happens.
When large holders are heavily positioned, price becomes performative:
Support is defended until it isn’t
Liquidity is manufactured until it’s pulled
Confidence exists until exits matter
If you’re small, your participation does nothing to influence that outcome.
You’re not early. You’re not late. You’re irrelevant to the unwind.
And worse—your presence only adds risk, not opportunity.
The Hard Truth
There is zero benefit for a small participant to be exposed while larger players are defending levels.
No yield.
No information edge.
No moral victory.
The opportunity isn’t in owning anything right now.
The opportunity is in watching who panics first.
And when that happens—
you won’t need a thesis.