Lately, I've been thinking about how interest rates "bend" and influence my positions. To put it simply, when interest rates are high, even just holding money outside the market can generate some returns, so my mindset becomes more selective: I’m not in a rush to chase gains, I’d rather wait for a pullback or a stable structure before slowly adding. Conversely, when risk appetite increases, the market is willing to tell any story, and I tend to hold back... because at such times, slippage and emotions can easily lead people astray.

By the way, I’ve seen everyone complain about miner/validator income, MEV, and unfair ordering, and it feels like it’s all on the same chain: when the overall environment becomes more “expensive” (higher capital costs), every friction on the chain becomes more noticeable, and retail investors are more likely to feel like they’re being exploited. Anyway, my current approach is: do less, watch more, and before making a move, ask myself, “Is this trade worth risking the opportunity cost of interest?” That’s how I’ll proceed for now.