Recently, more people are paying attention to stablecoin supply and ETF net inflows, and everyone loves to link the two lines together, thinking "funds are coming in = prices will rise." Frankly, correlation does not equal causation; a lot of times, the increase in stablecoins is just repositioning, market making, replenishing inventory, or an off-chain shell being brought in, not necessarily immediately buying spot; the same goes for ETFs—net inflows don’t mean immediate buying, there are rhythms and hedging involved.

Why can I stay calm? A small habit: before placing an order, I always scan the open interest, funding rates, and liquidation hot zones, then wait five minutes. As long as I find that the sentiment has already started to "rationalize itself," I treat it as noise... Also, recently, on-chain data tools and label systems have been criticized for lagging and being misleading. I agree halfway, so I dare not focus on a single indicator; I prefer doing less but not taking the chart as the truth.