#通货膨胀 Gulzby’s remarks remind me of the套路 in the crypto circle over the past few years—"Interest rates are going down, jump on the train"—which seems logical on the surface but actually ignores the most critical aspect.

Inflation has remained above target for four and a half years, and this is not a small issue. People are not worried about abstract data but about their real purchasing power shrinking. Gulzby’s opposition to recent rate cuts is well-founded: without more inflation and employment data to support it, a reckless rate cut is just playing dirty. This makes me think that project teams often use the same套路—tempting you to invest with bright prospects, but the fundamentals are not actually improving.

The key point is that the expectation of rate cuts itself is a trap. Whenever officials hint at possible rate cuts, the market becomes volatile, and funds rush in. But actual rate cuts require far more stringent conditions than just "optimistic expectations." I’ve seen too many people get caught by this expectation—buying at high prices—only for the data to come out and reverse the trend immediately.

How many times can we actually cut rates next year? Anything said now is just empty talk. My advice is: don’t be fooled by the story of rate cuts; focus on the actual trend of inflation data. The same logic applies to on-chain investments—don’t chase hot topics and expectations; instead, look at whether the project’s real fundamentals can support its valuation. Wait until the data truly shows inflation is declining before considering to follow up—it's better than being slapped in the face by false expectations.