Chasing the latest hype just isn’t doable anymore. AI, chain games, memes, RWA… they come in rounds—if you miss one, the next one shows up. When you look back, your bag is full of positions you bought at the top and are stuck in losses.

At the end of the day, attention is money. Hot-spot rotation is essentially liquidity moving between sectors. You stare at the candlesticks charging up, while others watch your positions move. Recently, when news about tax increases and tighter compliance in a certain region came out, market expectations for deposits and withdrawals clearly shifted. Funds became more inclined to move toward places with higher certainty, rather than chasing stories.

My approach now is: don’t chase the hype—watch where big money flows and macro liquidity. If net inflows to an exchange keep expanding, it means everyone is preparing to exit. In that situation, even the hottest story isn’t something I touch. After all, chasing hype isn’t as good as sticking to logic—less exhausting, and you’re less likely to get chopped.