I used to pay a lot of attention to stablecoin supply; when it rose, I felt like "the bullets are loaded and ready to fire." Now I see it more as one of the indicators, not a switch. The same goes for ETFs; public opinion often likes to link capital flows with price movements, but honestly, sometimes the correlation is just that everyone is making the same emotional choice at the same time. When outside money comes in, it might first go to hedge or structure, not necessarily immediately pushing the price up. Anyway, I still stick to my old approach: wait for a confirmation before reacting to price movements; if there's no confirmation, just assume the wind is strong... just watch. Recently, the interpretation of risk appetite in the US stock market has been brought over to crypto, but I just listen and don't take it too seriously.