I set a rule for myself: when I see charts like "Stablecoin supply has increased again" or "ETFs are flowing in again," I shouldn't rush to assume "it's about to rally." Correlation can be very deceiving; an increase in supply could be due to market makers, arbitrage, rebalancing, or it could just be everyone loading up their wallets but not spending yet. The same goes for ETFs—foreign capital coming in doesn't mean immediate spot buying; sometimes it's just slow shifting, batch hedging, and the time lag can last a long time. Anyway, I now prefer to spend an extra 10 minutes thinking through where the funds are going and how to exit liquidity, rather than relying on a phrase like "macro positive" to boost my confidence. By the way, I want to complain a bit—recent L2 debates about TPS, fees, and subsidies are lively to watch, but I care more about where the money ultimately ends up and when it can be withdrawn. That's all for now.