These days, I've seen a bunch of people directly draw a "certain upward trend line" by linking stablecoin supply, ETF capital flows, and OTC market entry.

Honestly, the correlation looks quite convincing, but that doesn't necessarily mean causation.
An increase in stablecoins could be for preparedness or risk hedging,
ETF inflows might just be window dressing for rebalancing, and even when combined with risk appetite in the US stock market, I get nervous about my emotional curve...
Anyway, I’m currently just watching the drawdown, keeping my position not too full,
only losing what I can afford to lose to sleep well.
What I don’t regret is: every time the market gets the hottest, I first turn off leverage, even if it’s a bit slower.