My most intuitive feeling when watching the market recently: when interest rates rise, people still talk about "long-termism," but they start reducing their positions... In simple terms, risk appetite is transmitted this way—when risk-free returns become more attractive outside, those "stories" on the chain immediately lose their value. Conversely, when liquidity loosens and sentiment warms up, even governance votes can be interpreted as positive signals. I can only silently note: it's not that the code has changed, but people's hearts have.

My own simple method to avoid impulsive trades: whenever I want to "buy immediately" or "chase quickly," I first close the trading interface, then check the macro calendar and the latest upgrade/fork discussion records of the project, to confirm whether I am betting on volatility or on the route; if the answer is vague, I either change the order to a smaller probing position or just give up. Recently, hardware wallets have been out of stock, phishing links are everywhere, which also reminds me not to click or sign recklessly when emotions are high—manage your positions, and also keep your signatures in check. That's all for now.