I saw someone say, "The supply of stablecoins has increased again = off-chain money is coming in = ETFs are pushing the market up," and I feel a bit amused and a little anxious... The correlation is so misleading. An increase in stablecoins might just be from market making, lending, or even people hedging on-chain and stopping temporarily, which doesn't mean new money has hit the recharge button. ETFs are more like a slow-permeating channel, not on the same rhythm as minting and burning on-chain, and forcing a causal link can easily lead you astray.

Recently, cross-chain bridges have had issues again, and there was that oracle error wave. Everyone rushing to "wait for confirmation" actually shows a lot: money can move, risks come first, narratives follow later. Right now, I’m watching one thing: where does liquidity come from, and can it leave at any time? If not, then avoid it. As for you saying "Should I go all in"... don’t rush.