Just now when I was looking at the funding rate, I saw those extreme values that everyone can tell at a glance that everyone is crowding to one side, and I still felt the urge to take the opposite position. But honestly, what I’m more afraid of is “even if the direction is right, it gets washed out by volatility,” especially when I open up the on-chain transfers plus gas fee records and realize that the losses are never from the viewpoint, but from those few minutes when emotions drove the positions.

Recently, someone has been using ETF capital flows and US stock risk appetite to explain all the rises and falls. Listening to that, I get a bit tired… In such times, I usually choose one of two: either take a small position and go against the trend, with a stop-loss set in stone; or just hide, go reconcile the accounts, check the authorizations again, and wait until the fee rates return to normal before acting. The good thing about being a lone wolf is that no one pressures me to “must participate.”