In the past, when liquidity was poor, I would get itchy and think "It's stupid not to pick up cheap deals," but now I'm a bit timid... When things are drying up, I first think about how to survive: reduce my positions, don't chase after incentives everywhere, the only thing that’s solid is the fees/protocol income I can earn. Cutting incentives causes TVL to leak like a puncture, and the mentality also collapses. Recently, I've been talking about expectations of interest rate cuts, the US dollar index, and risk assets rising and falling together. Honestly, when macroeconomics is unprincipled, bottom-fishing is more like a lottery. Anyway, I’ll first withdraw what I can, keep some bullets, and wait until the market is willing to give liquidity premiums before being stubborn.