These days, I’ve been talking about macro news and interest rates again, basically about how expensive money is. When interest rates go up, everyone prefers to hold cash or stable assets, risk appetite decreases, and my own positions also unconsciously shrink: I keep some spot holdings, avoid leverage, and become more selective with gains, always thinking first “how long can this project last, will the rules be changed suddenly.”

Conversely, once the market starts to feel “it’s going to loosen,” the sentiment can shift incredibly fast, and the speed of transmission in the crypto space is even more intense than stocks, making FOMO easier to trigger. The kind of economic collapse in chain games is actually quite typical: when inflation rises, studios jump in, and as token prices drop, it spirals downward, leaving only the task-oriented traders waiting for airdrops for comfort… I now prefer to slow down, clearly write down the risks I can bear before taking action. How about you?