Recently, I've seen a bunch of people talking about stablecoin supply, ETF inflows, and OTC funds, drawing lines and then saying "funds are coming, so it’s going to take off." Come on, correlation ≠ causation; often it's just that everyone’s emotions are synchronized at the same time, or they’re just filling in the narrative after the fact. On perpetuals, it’s more straightforward: when funding rates turn hot, people's greed follow and they leverage up, and in the end, you know who ends up holding the bag. Developers are excited about words like modularization and DA layer, while users are confused and still asking, "What does this have to do with whether I can withdraw my coins?" Anyway, lowering my expectations makes me feel more relaxed; less wishful thinking, and it’s not so surprising if I lose money.