The market has really been a bit "dry" these days, with order books as thin as if they've been sun-dried, and hands trying to buy the dip keep reaching out and pulling back. When liquidity dries up, I just think of one thing: don’t rush to prove you can buy the dip, first make sure you can still stay at the table.

The set of RWA, US Treasury yields, and on-chain yield products all sound reasonable when compared, but what I care about more now is: are you taking interest to comfort yourself, or are you betting on a sentiment rebound? No matter how beautiful the yield looks, a run on the bank would still make you panic.

I just split my positions into smaller parts, keep some cash on hand, and would rather miss out on a move than get washed away when there's no water… that’s how I’ll proceed for now.