Should I express my love to the person I'm in a situationship with?

Here's the revised text: "A bit of background: I’m 22 and this guy, also 22, has been in a relationship since November 2024; it’s now March 2025. We both recently exited long-term relationships—he was in one for 3 years, and I had a 5-year relationship. He’s expressed that he’s not ready for a full-fledged relationship because his past ones moved too quickly, and he often found himself regretting his decisions a few months in. He’s determined not to make that mistake again, which I understand and appreciate. Personally, I feel ready for a relationship. I’m not someone who approaches things half-heartedly; I’m all in or not at all. Still, I’m willing to wait for him to be ready. I’ve never felt so safe, heard, and understood by anyone before. He brings out my inner child, making me feel joyful and protected. He cares deeply, makes me laugh, and is genuinely one of the most thoughtful people I’ve ever met. I’m head over heels in love with him, and it feels intense. I want to tell him how I feel, but should I hold back? Could it scare him off? Is he possibly wasting my time? Should I consider moving on before I become more attached? I also want to add that our connection is incredibly strong; it feels like we can read each other's thoughts."