Recently, looking at the interest rate trend is more intuitive than looking at candlestick charts... When interest rates rise, everyone's risk appetite tightens like being turned off by a faucet, and positions naturally shrink, even if they say they are long-term oriented, their hands will still tremble a bit. To put it simply, my own transmission path is quite crude: first, see whether the macro sentiment is tight or loose, then decide whether to keep more stablecoins or slowly buy back spot holdings, don’t fight yourself.

These days, the funding rate has been discussed very extremely, half the group saying "a reversal is coming," and the other half saying "continue to squeeze the bubble," I don’t know who’s right either, but I prefer to keep my actions small during such times: for example, I only added 30 USDT in spot, as a way to keep a sense of participation, so I won’t feel anxious about being out of the market. If the squeeze continues, I’ll wait at most another week; if it reverses, I won’t completely miss out. The tiny cabin mode is still on, taking it slow.