Lately, I feel like the market is a mirror ball—once the hot topic shifts, you think you’re chasing “information,” but in reality, you’re chasing your own anxiety. The most ruthless part of the attention economy is this: it doesn’t need to persuade you; it only needs to make you unable to stop yourself from clicking in and unable to stop yourself from placing an order (a pretty high-level kind of cutting).

Right now, I’m trying my best with the dumbest method: when a new narrative shows up, I don’t first check what KOLs are saying. I check whether real money is actually flowing in on-chain, whether the wallet count is “many but small,” or whether only a few big whales are pushing it. Then I cross-check the exchanges’ net inflows and outflows—don’t just look at one chart and fill in the rest of the world buying with your imagination. And I also give myself a cooling-off period: when a topic first hits the hot search, I basically don’t touch it for the first few hours. After all, missing the “first shot” won’t kill me.

Recently, in some regions, tax hikes and compliance crackdowns tighten up and then loosen again; expectations around deposits and withdrawals get yanked back and forth, making it even easier for your emotions to get pulled along with the current. To put it plainly, hot-topic rotation isn’t about making you smarter—it’s about making you diligently commit the same mistake… I get tempted too, but if I look at the data a couple more times, at least I can understand my losses more clearly. That’s it for now.