In the past couple of days, I've seen people linking stablecoin supply and ETF inflows/outflows directly to market movements, but honestly, correlation ≠ causation... An increase in stablecoins could mean more off-chain money coming in, or it could just be everyone switching from risk assets to a "lying flat" mode; ETF inflows don't necessarily mean someone is immediately buying on-chain, there's emotional factors, risk control, and time lag in between.

And those new L1/L2 projects that see TVL skyrocket right after incentives, while veteran users complain about "mining, then selling," I think that's quite realistic: money coming in doesn't equal faith coming in, it might just be passing by to grab a quick profit. Anyway, I’ve set a few on-chain alerts now—if triggered, I’ll take a look; if not, I’ll keep sleeping... Forget it, no need to talk about it, the candlestick charts aren’t worth me working overtime.