My biggest feeling from recent market watching is not the rise and fall, but that "interest rates are like a remote control." Turn it up a bit, and everyone's risk appetite shrinks back first, and positions also lighten. Those small anomalies on the chain become even more obvious: it's not about who is smarter, but who is the first to not want to bear the volatility anymore, as funds start looking for more stable places to rest.

And that news about certain regions raising taxes and tightening or loosening compliance measures from time to time really impacts the psychology of deposit and withdrawal expectations. To put it simply, many people don't lack the desire to buy; they are afraid of trouble, afraid of being stuck, and their emotions change after hesitating for a couple of days.

My current approach is a bit like "backup": not relying on a single entry point or a specific time to make judgments, spreading out the rhythm, leaving some redundancy. The market doesn't rush to prove whether I'm right or wrong; I just want to endure first and then see.