These days I've been thinking about "slowness" again. When interest rates rise, all risk-free assets outside become more attractive, and risk appetite seems to be drained away. I subconsciously reduce my positions: not chasing the highs, not stubbornly holding on, preferring to wait until the sentiment confirms before adding more. Anyway, the macro transmission to the crypto world basically means everyone is more afraid of a pullback.

Then I saw new L1/L2 projects start offering incentives to boost TVL, and I understand the complaints from old users about "mining, selling"... When interest rate environments are tight, incentives feel more like short-lived stimulants—they come quickly and go just as fast. Right now, I’m doing two things: note down when rules change, slowly shift my positions, and try to avoid pitfalls where I can. That’s all for now.