#2026年比特币价格展望 💥Deep Dive: Under the Fed's Rate Cut Expectations, Is Your DeFi Position Really Safe?

Recently, I've heard too many voices claiming that the era of negative interest rates is coming, with some even proposing to collateralize assets to borrow in DeFi protocols. But reality often proves otherwise—the interest rate mechanisms in on-chain lending are never sentimental.

Take mainstream DeFi protocols as an example; interest rates are entirely driven by on-chain supply and demand, with algorithms making the decisions. Suppose everyone FOMOs into borrowing, causing the utilization rate of the liquidity pools to skyrocket. The system will automatically trigger the "interest rate ladder" mechanism. You might think you're borrowing at a 1% cost, but then a wave of market fluctuations causes the interest rate to spike to 10%, 15%, or even higher—it's not surprising. By the time you realize it, a month's interest could wipe out all your previous gains.

My approach is simple: before leveraging, always conduct a rigorous stress test. Ask yourself: **If the interest rate soars to 10% and stays there for a month, can my position survive?** If you're unsure, then don't play.

$ETH $BTC In this market cycle, many people have been blinded by the rate cut expectations. Instead of guessing what the central bank will do, it's better to look at the on-chain data clearly. Will you increase leverage based on macro fantasies, or will you honestly trust only the on-chain algorithms? Share your thoughts in the comments below.