These days, I've been talking about interest rates again. To be clear, they don't directly determine which coins I buy, but they do influence whether I dare to add to my position. When interest rates are high and capital is expensive, risk appetite shrinks. No matter how lively the on-chain activity gets, I’ll move my holdings toward the “survivable” side, keeping some bullets in reserve so I don’t get forced to sell during a wave of retracement.

Recently, the modular/DA layer narrative got developers excited. I checked out the interaction paths and saw a bunch of bridges and layers, and the user experience was really confusing… I thought to myself: if I don’t understand it, I’ll just leave it alone. Sure enough, when volatility hits and emotions tighten, liquidity flees faster than anyone. Anyway, my current rule is: tighten when macro tightens, try again when macro loosens a bit. I’d rather earn less than rely on luck to bear the risk.