Lately, watching the market feels more like watching interest rates... To put it simply, when interest rates go up, everyone prefers to hold cash or short-term bonds for certainty, and that small amount of "daring" money on the chain shrinks back, making the positions naturally lighter; once risk appetite warms up, big players test the waters first, and capital flows will explore the mainstream pools first, with smaller coins only following later and heating up.

Airdrop season also closely resembles a macro shadow: once task platforms counter the witch hunt, and a points system is implemented, the "grab and go" traders really feel like clocking in at work, liquidity is locked by the "task cost," and in the short term, it's just for fun, but in the long term, it's still about when interest rates will loosen.
Someone even complained that I "keep watching address transfers even on weekends," I don't know either, but I'll just keep the leverage in check for now.