ETH Was Still Falling

Pei Yanzhou’s phone buzzed once, then twice, then a third time. The exchange push notifications arrived like a sentence being read aloud: `Your position has been liquidated.` `Insufficient margin. Position auto-closed.` `Current balance: $1,274.36` He stared at the number and did not immediately break. Instead, he felt emptied. What came first was not crying or shouting, but a strange, absurd calm. He flipped his phone face down on the desk, then back up, then face down again, as if repetition could postpone reality. But the page did not disappear. The balance did not return. ETH kept falling. The group chats were already exploding, with liquidation screenshots flying one after another, and even people posting charts of how many had died that