These days, the macro situation is getting noisy again—interest rate cut expectations, the US dollar index, and why risk assets can still move up and down together… I find it a bit tiring to listen to, but I’ll still take it in slowly. To put it simply, interest rates are like the tides: when the water level is high, I scale back my positions and stay more cautious; once everyone’s risk appetite lifts and the waves get bigger, I don’t rush to chase—I first check whether big on-chain investors are replenishing or pulling back. Anyway, my own rhythm is still low-frequency; I’d rather make a little less than have my decisions run on emotion. That’s it for now—back to staying under the radar.