Lately, I've been paying more attention to macro than to K-line charts... When interest rates rise, risk appetite feels like it's being pulled away. The transmission in the crypto space is pretty direct: first, leverage is reduced, then spot trading starts to hesitate, and finally, the narrative begins to tell stories. To put it simply, my current position isn't about "bullish or bearish," but about whether I can sleep well. If I can, I keep a little; if I can't, I reduce.

Developers are really excited about modularization and the DA layer this time, and I can understand why users look confused... But what I care more about is whether this kind of narrative can withstand retracement emotions when interest rates are high. Anyway, I'm still the same as always, a chart review: time - position - emotion, if emotions spike first, I withdraw first. Also, I don't need to be understood; as long as I don't get too badly educated by the market.