I used to always say "I only look at on-chain data, the most authentic," but recently I got proven wrong... The "on-chain data" you see in browsers or dashboards actually goes through several layers: just because a node produces a block doesn't mean you can read it immediately, RPCs might be queued or rate-limited, index services are even slower, and they only categorize and aggregate transactions before pushing them to you. To put it simply, what you see is "someone else's curated on-chain data," which can sometimes be delayed by minutes or even longer.

So now, when I encounter opinions like "ETF capital flows directly determine how the coin moves," combined with the risk appetite of the US stock market being interpreted together, I also take a cautious approach: don’t rush to treat a single chart as the absolute truth. If I want to verify, I’ll switch to several RPC nodes, compare different browsers or data sources, and see if the same transaction at the same block height matches... If they don’t, I treat it as noise and wait. Anyway, I no longer stubbornly insist "only look at on-chain data," because on-chain also has delays and perspective differences. I accept it—slower is actually more stable.