These days, I saw someone arguing over "on-chain data" again. I actually want to say: what you see on-chain might also be "delayed on-chain." Slow node synchronization, RPC hiccups, indexers falling behind—resulting in the same event appearing on different people's timelines at different times... You might think funds suddenly shifted, but it could just be that your side refreshed a few minutes late.

Especially when funding rates are extreme, everyone in the group is guessing whether it's a reversal or just more bubble squeezing. I'm actually more concerned about a signal: are we all using the same "reality"? If the data sources aren't consistent, emotions tend to get amplified easily. Anyway, I now check two or three sources at key moments to compare; otherwise, it's really easy to scare yourself unnecessarily.