Lately, watching the market feels a bit like checking the weather forecast: when interest rates rise, risk appetite shrinks back into its shell, and positions automatically get smaller. To put it simply, it's not that I become more cautious; when the trend cools down, I just don't want to stretch too far... Right now, I roughly separate "imaginative positions" from "survival positions," the former being for small experiments, the latter being honest and steady.

By the way, seeing Layer 2 projects arguing over TPS, fees, and subsidies, my mind instantly turns into a local market: it doesn't matter whose stall shouts the loudest; what's important is whether it's easy to buy vegetables when you go, whether the scales are accurate, and whether you won't get diarrhea when you get home (on-chain, don't get stuck, don't glitch out, don't get scammed). Narrative is like a puzzle; macro is the background color, subsidies are reflective stickers, and whether they shine or not can be easily influenced by emotions... I'll hold back my hand first and slowly piece it together.