Recent news has been everywhere, and many people start trading just by looking at the headlines, but there's really no need. Here, I’ll clarify a few pieces of information that are easily misinterpreted but do indeed impact the market.

**Japan Rate Hike Hype, Yet the Market Remains Calm**

The news is hyping the possibility of Japan raising interest rates, but just look at how funds are moving—you’ll see that risk assets haven't experienced a panic withdrawal. Why? The reason is simple: this isn’t a sudden black swan event; expectations have long been digested by the market, and there hasn’t been a concentrated unwind of yen carry trades. In plain terms, it’s an old story with a new coat.

**The Fed is Dovish, but the Days of Explosive Growth Are Gone**

The macro environment is indeed more accommodative, but you’ll notice the market’s reaction pattern has changed. Previously, liquidity injections would lead to straight-up rallies; now, it first oscillates and then gradually finds a direction. What does this mean? Market participants have become more cautious, leverage is less aggressive, and sentiment is cooling down. This isn’t very friendly to short-term traders, but in the long run, it’s actually a good sign.

**BTC and ETH Are "Toughing It Out"—Actually Waiting for Consensus**

These two mainstream coins have recently been characterized by one word: annoying. They neither rise nor fall significantly, and they’re neither strongly pushed up nor broken through. Such market conditions are often not the end but a brewing process—waiting for the market to re-establish consensus. Many trend reversals in history have quietly formed during the most boring moments.

**What to Truly Watch Out For Is Your Own Trading Habits**

Recently, most people losing money aren’t being caught out by news, but rather because of issues with their own trading discipline.