Recently, someone again linked ETF capital flows with US stock market risk appetite to explain the rise and fall of the crypto market.

I don’t think it’s entirely wrong, but every time this “one indicator explains everything” narrative comes up, I just can’t sleep better…
When I’m floating profits, my mind is “Good, don’t be greedy,”
When I’m floating losses, it turns into “Should I cut losses? Will it drop again? Did I misunderstand the protocol?”
Clearly, it’s just on-paper fluctuations, but my physical reactions are much stronger than the profits.
Later, I realized that what’s most disturbing isn’t the price, but the uncertainty:
Is TVL truly locked or just temporarily inflated,
Is the cash flow one-time or sustainable,
If I’m not sure, I keep ruminating.
Anyway, I now try to only look at my simple charts and key addresses,
and avoid constantly checking timelines.
I treat simplicity as a trap.