The recent trending topics are nothing more than these: stablecoins losing their peg, large funds fleeing, and certain "signals" appearing on the K-line chart. Screenshots, signal calls, simulated bottom-fishing profits... it's quite lively. But at such times, you can often see two types of reactions: one is the panicked followers who are caught off guard, and the other is the spectators who watch coldly, waiting to pick up bargains.

To be honest, these rumors always surge every time, and I can see through the tricks behind them. Instead of blindly following the trend or going against it, it's better to first understand the true operational logic of stablecoins.

The safety of stablecoins essentially depends on "liquidity support." Minor fluctuations in the market—such as oscillations between 0.998 and 1.002—are completely normal and nothing to be nervous about. The buy and sell orders can never be perfectly balanced at all times; these small fluctuations are part of the market's self-regulation process.

What we really need to be cautious of is not the 0.005 dip. The main sources of risk usually come from three areas: issues with reserves, large-scale runs caused by market panic, or sudden regulatory shocks. A few years ago, there were cases where stablecoins significantly lost their peg due to partner banks going bankrupt, which had clear risk triggers. But now, the widespread "de-peg warnings"? They are mostly emotional contagion, with no substantial bad news behind them.

Regarding the issue of "withdrawing in time," I have seen too many retail investors fall into a common trap: taking others' panic as the reason to run. In fact, often when the market is shouting the loudest, it's precisely the easiest time to get caught in a trap. Without fundamental support, blindly fleeing usually means taking losses at the worst prices.

Instead of being led by the rhythm, it's better to carefully analyze the real risks behind the assets you hold. Emotions can fluctuate, but risk data is objective.