Lately, I've been paying more attention to the movements in interest rates... Honestly, when interest rates tighten, everyone's risk appetite shrinks, and even if the on-chain activity is lively, it easily turns into "run first, talk later." My own positions become very cautious: no leverage, splitting up my holdings, keeping some cash to slowly buy back when sentiment cools down. Otherwise, a single macro news event can knock you back to square one.

By the way, just want to complain that hardware wallets are out of stock, which shows people are really scared; but phishing links are also on the rise, and the more anxious everyone gets, the easier it is to click the wrong ones. Anyway, now I pause for two seconds before signing each time, first checking the domain name, then the authorization—better to miss out than to be greedy.

Next time, if interest rate expectations keep fluctuating, would you choose to simply reduce your positions and wait, or keep dollar-cost averaging as if you didn't see anything?