The biggest feeling I've had while watching the market these days: when the interest rate string is pulled tight, risk appetite feels like the air being sucked out, and no matter how solid the position is, it will soften... When liquidity tightens, leverage starts stepping on each other's toes, and the liquidation chart directly turns into my zodiac chart, shining so brightly it's frightening. To put it simply, it's not about who is smarter, but who admits defeat first and who still keeps holding on.

My mom asked me last night: "Aren't you guys in blockchain? Why are you talking about American interest rates?" I replied with half a sentence: When money gets expensive, everyone stops gambling. And then there's the modular, DA layer stuff—developers look excited, but I, as a user, see it like an instruction manual. Anyway, when the market fluctuates, no matter how appealing the narrative, I first check if the margin is enough... That's all for now, I'm sleepy.