Recently, there has been more talk about interest rate cut expectations, along with repeated discussions on "how the US dollar index and risk assets still move together up and down"... I, for one, am not taking a side for now.

Macroeconomic transmission to positions, in simple terms, involves two steps: risk appetite increases → leverage becomes bolder → funding rates rise first;
Once expectations fall short or data contradicts them → liquidity is withdrawn → liquidation waterfalls happen faster than news.

My current approach is quite simple: only watch a few probability signals, reduce positions when the rate bias leans consistently in one direction, avoid chasing when depth thins out, and be extra cautious when the dollar strengthens but the coins still hold firm.
The result isn’t fate, but more about which side you stand on during those few minutes when liquidity suddenly changes.