Recently, I've seen everyone linking "rising stablecoin supply = about to take off" and "ETF net inflow = off-chain money is coming in" into a single line, to be honest, I don't quite believe this straight-line reasoning. An increase in supply might just be market making/arbitrage moving bricks, ETF inflows could also be hedging or rotation, money coming in doesn't necessarily mean willingness to buy in, let alone immediately push the price up.

Anyway, I'm now more concerned about "where the money is actually stopping," for example, some seemingly quiet pools suddenly deepening, or the spread narrowing—that's more like real demand. Especially recently, with cross-chain bridges being hacked again, people subconsciously prefer to stay on the main chain/exchanges, and liquidity flowing back can make the data look very much like a "bull return."

And about the oracle abnormal quotes, many people in the group say "wait for confirmation," once this consensus appears, many actions are delayed, and data lag becomes even more obvious... I'll just slow down first, better to miss a part than to treat correlation as causation and push hard.