Lately, I haven't been paying much attention to the K-line while watching the market, mostly thinking about how interest rates mess with people's psychology. To put it simply, when interest rates are high, that small amount of "willingness to take risks" in people's hands gets drained, and positions naturally lighten; once the market feels it's about to loosen, risk appetite springs like a released spring, and this tends to amplify in the crypto space.

In the group, there's again talk about stablecoin regulation, reserve audits, and rumors of "de-pegging," which makes the mood noisy when emotions rise. I prefer to first check the on-chain redemption situation: whether redemptions are accelerating, whether liquidity is thinning. Without data, don’t overreact.

Now I see it more as a habit: not chasing short-term excitement, gradually adjusting positions according to the macro rhythm, and when I see projects start writing phrases like "guarantee" or "certainly," I remind myself to hold back... Anyway, living longer is more important than guessing the right entry point.