Recently, I saw someone equate "the supply of stablecoins increasing / ETF net inflows" directly with "the bull is coming," but I’ll just hit pause for now... The correlation feels quite similar to quest guides in a game, but that doesn’t mean you’ll definitely get rare gear. How the off-chain money flows in, whether to buy immediately, whether it will go back to market-making or hedging after buying—who can say after circling around on-chain and off-chain?

The reason I stay calm is a small habit: every time I feel FOMO, I first review the list of airdrop tasks I have, and casually write down a pitfalls checklist. After doing that, I look back at the chart, and my emotions basically cool down, at least I won’t take "seeing data" as "finding causality."

Also, the community is quite noisy about privacy coins/mixing coins. To be honest, as compliance boundaries tighten, capital behavior might become more tangled, so don’t rush to draw conclusions… Let’s leave it at that for now, and keep doing side quests.