Lately, I’ve been paying more attention to external information than to candlestick charts... When interest rates rise, money becomes more selective, and risk appetite shrinks first. The most direct manifestation on my end is: positions automatically lighten, especially those assets with “beautiful narratives but weak cash flow,” anyway, holding them feels uneasy.

Later, I found a detail that can explain the sentiment well: the more everyone discusses hardware wallet shortages and phishing links flying everywhere, the more small, scattered on-chain actions there are, as if collectively shifting “risk” from price fluctuations to “don’t lose your coins.”
My approach is simpler: when interest rates are high, gamble less, keep some bullets, and verify links before entering or exiting, even if it’s slower.