Recently, I've been thinking about interest rates again. Basically, they are just testing everyone's nerve: when money is expensive, the market cares more about "staying alive first"; as risk appetite contracts, my positions also gradually shift towards conservatism. It's not necessarily bearish, but I just don't want to be forced into reckless moves by noise. When money loosens, people tend to get carried away, but I remind myself not to get too excited—drawdowns are just part of the long-term cycle.

These days, there's a lot of debate in the group about privacy coins, coin mixing, and the boundaries of compliance, which are also quite divisive. Some say privacy is a right, while others say don't invite trouble... Listening to this, I feel that macro uncertainty combined with regulatory sentiment can easily blow people's minds. Anyway, I no longer chase explanations; some randomness is just randomness. The only thing I can do is manage my positions and sleep well—just start with that.