These days, I've been looking at the supply curve of stablecoins again, and it indeed often moves together with the market, but don't casually write a causal script like "stablecoin increase = market rally"... Especially on the ETF side, outside funds coming in doesn't mean they immediately flow onto the chain; many times, they just switch channels and stay in custody, with emotions reacting first and the on-chain response being a bit slow.

By the way, I want to complain that recently AI Agent + automated trading has been hyped up as if it's a fully automatic money-printing machine. I'm actually more concerned about how they sign transactions and manage permissions—more contracts mean more tentacles, and if something goes wrong, it could become a chain of entanglements.
Anyway, I now see data only as a thermometer, not as a steering wheel.