STETH Cascading Liquidation (Patreon)

Ever since ETH fell thru the support level of $1740 it has been a falling knife.  Rumors abound about staked ETH being the culprit after losing the peg on Lido. Last 24 hours ETH has fallen by 13% and Bitcoin by 3%.  Liquidations above reflect the damage. This is the latest show to drop. 

 stETH is a derivative token backed 1:1 by ETH. Users who stake their ETH on the Lido Finance platform receive the staked derivative in return.

Some also say Celsius has exposure.  Celsius may or may not be running into liquidity issues, but they hold a significant amount of STETH which is used as collateral to borrow stablecoins.
If sold, this would definitely cause stETH’s secondary market value to decrease, at least temporarily. Many also say there is no death spiral issue... just a matter of sitting it out. eg ARB If 1 stETH is trading at a value of 0.70 ETH (30% discount) and Ethereum staking yield remains 4% APR in two years, your aggregate yield will have been 38% APR, rather than 8% as a normal staker. 

For me I have not DCA'd anything for quite some time now.  Not until I see clear signs of a bottom.