To be honest, I have recently regarded the on-chain movements of MERL almost like a soap opera; the more I watch, the more I feel—this wave in December is definitely not something that can be described as a 'normal market'.

You might have already heard that there are four key nodes this month with 'high energy in the plot': 12/12, 12/15, 12/16, 12/19.

On these four days, approximately 70 million MERL will slowly emerge from the OTC agreement and officially join the circulation army.

When this number was first presented to me, I was directly stunned:

—this is not a 'daily unlock', this is definitely a concentrated release.

But I want to remind you, the focus is never on 'whether this batch of coins will be sold',

but rather—whether everyone thinks they will be sold.

As long as the market has this expectation, even if OTC holders don't sell a single coin, the emotions will start to tighten.

Don't forget, many early OTC costs are ridiculously low, with some even being only one third of the current price. For them, it is already the 'harvest season'.

With a slight rebound in price, taking profits at high points becomes an instinct written in the bones—if you don't sell, others might run first, leading to selling pressure piling up.

📌 This wave of unlocking is actually a triple pressure test of psychological warfare + structural warfare + financial warfare.

📌 What truly affects short-term trends is never 'who sold', but rather 'who everyone is afraid will sell'.

If you have positions, you can pay more attention to several clues in the coming days:

Are large addresses starting to stir?

Has the net inflow to exchanges suddenly increased?

Are the OTC unlocking chips gradually dispersing?

These signals are often much more honest than K-lines.

And if you are waiting for an opportunity, this period of volatility is actually an excellent time to observe the main players' thoughts—

the higher the expectations, the higher the volatility, and the more tense the atmosphere, the clearer you can see the chip structure and the true distribution of power.

Will these 70 million MERL ultimately become a turning point of 'bad news exhausted, rebound soaring',

or 'accelerating slide before a plunge'?

In the coming weeks, the plot will automatically reveal itself.