These days, I’ve seen people ask again whether stablecoins will lose their peg. Honestly, it’s not really about reading candlestick charts; it’s more about reading people's intentions: where the reserves are stored, whether they can be withdrawn at any time, whether information is being delayed again and again. Poor transparency can lead to a bank run mentality, and the more explanations there are, the more it seems like fanning the flames… I now pay more attention to whether the redemption channels are smooth and whether the announcement tone has hardened. These small details are more reliable than “verbal promises.” When expectations of interest rate cuts come from the macro side, discussions about the US dollar index and risk assets rising and falling together resurface, and market sentiment becomes more tangled — the more tangled it is, the easier it is to see “stability” as an illusion. Anyway, I don’t dare to put all my “stability” on one symbol in my own holdings; I leave some room to exit, so I can sleep more peacefully.