These days, I've seen the group repeatedly say, "Increasing stablecoin supply = market manipulation," "ETF coming in = off-exchange funds will inevitably flow in," honestly, I feel tempted too, but don't mistake correlation for causation.

Having more supply might just mean arbitrage, market making, or lending activities are circulating; ETFs might just be switching channels to move existing positions elsewhere.
Not to mention, when there’s any hint of regulatory changes or reserve audits, rumors of "de-pegging" can twist market sentiment into knots...
Now, I’d rather focus on volatility; I’d prefer to use options to lock in some losses, rather than get carried away by these "seemingly logical" narratives.