Lately I’ve been obsessing over that whole interest-rate mess, and it feels like a master switch: once it gets tightened, everyone’s risk appetite immediately contracts. Even if things are lively on-chain, I still don’t dare to go all-in—at most I’ll test with a small position. If I’m wrong, I stop out the way I always do, like brushing my teeth, just to avoid getting swept away by emotions. On the flip side, when it loosens a bit, the market starts hunting for “reasons you can dream about,” and I’ll get tempted too—but to be blunt, what I fear isn’t the market; it’s myself getting carried away.

And that news about some region raising taxes and tightening compliance—only to tighten and loosen it again—the most direct impact is actually on my psychological expectations for deposits and withdrawals. The moment I think the threshold might rise, the positions I’m holding suddenly feel “not as worth fighting to keep.” Long term, I don’t really have any special talent either—I’m just repeatedly training a habit: first, think about whether you can accept the worst-case scenario. If you can, then do it. If you can’t, then let it go. For now, that’s it.