I’ve been educated by “interest rates” for the third time… Once rate-hike expectations start to build up, everyone talks about long-termism out loud, but in their hands they still shrink their positions first. In plain terms, risk appetite first ebbs, and even the altcoin narrative becomes harder to spin. When the macro side tightens, the on-chain side gets even more sensitive—any slight ripple can easily turn into “run first, ask questions later” sentiment trading.

On the other hand, the airdrop season is still pretty lively, but task platforms are now getting increasingly detailed in their anti-sybil measures. Once the points system goes live, the “airdrop farmers” really act like they’re punching a time clock at work—so much so that I want to request leave… I’ve become even more laid-back: don’t go too heavy on your position, keep some ammunition, and don’t let your emotions turn you into liquidity. That’s it for now.