Just now, I had the itch to chase the breakout again, and my mouse was about to click down—then I suddenly paused and asked myself: Am I seeing new information, or am I being carried away by emotions from the K-line? To put it plainly, a lot of the time it’s just fear of missing out. Once you increase your position, people start finding reasons; the more they look, the more it starts to feel like “certainty.”

Recently, I’ve been watching the funding rate and the positioning distribution. It’s actually like watching a queue at the mall elevator: a suddenly longer line doesn’t mean what’s inside is better—it might just be that everyone got pulled in by the “liveliness.” The on-chain signs of a liquidation waterfall are pretty much the same: first it gets crowded, then there’s pushing and jostling, and finally it all comes crashing down in a cascade.

The modular and DA-layer development has been keeping developers pretty excited—it's normal for users to be completely confused too… I’m personally going to treat it as “a newly opened warehouse and logistics.” It sounds high-end, but whether I should impulsively add to my position right now is a totally different matter. Hold back first, wait for the emotions to cool down. Anyway, I’m already sick of writing up the losses from getting carried away.