Crypto Market Caution and DeFi Rally On the Horizon Amid Stablecoin Decline

I just got home after a 10-day marathon through Asia, and while it was fun, I now crave silence and comfort, much like after a loud rock concert. There aren't many market updates at the moment. Most cryptocurrencies are underperforming compared to Bitcoin and Ethereum. Having survived several tough cycles, I now prefer to just enjoy a period of inactivity. I am not eager to jump into altcoins without clear reasons. I plan to observe the market situation, mood, and underlying fundamentals before acting. I've decided to pay less attention to charts of other cryptocurrencies since they tend to move in tandem with the overall market, especially as stablecoins like USDC, USDT, and DAI in the top-10 are decreasing. My most probable candidates for a rally are DeFi tokens on Ethereum. Currently, most of them, except Enjin (ENJ), lag behind or are trading in pairs with ETH. I believe this will continue until traders relax their aggressive buying or until 'consolidation' points like $8K ETH and $150K BTC are reached. In addition, the wealth effect will come into play once profits are secured. Profit takers will chase new tokens, as dopamine levels are already high, and DeFi liquidity pools are an attractive target. A counter-argument is that DeFi tokens may grow based on fundamental metrics, not retail hype. Those likely to buy would be traders seeking leverage through infrastructure, not retail investors or personalities like Andrew Kangi with Dragonfly Capital. These traders are more rational and won't rely on parabolic pumps. These two perspectives create a debate within me, but I have time to monitor developments and gather more information. Regarding ENJ, I previously mentioned that it has about a month of buying pressure from the treasury, and I prefer not to close my long now. I also like my position involving Ethereum shorts, considering the current factors. Today, I considered the 5.75% unlock from the FDV (around $10 million now) as a significant price drag, but after some calculations, I believe clearing this hurdle may be a strong buy-the-dip opportunity. My main question is whether I should wait on the sidelines or hedge with staking rewards and farming boosts to accept a probable dip. I lean towards the latter, especially since the market is bullish and well-priced, with no major pivots expected soon. If the price quickly hits 0.23, I will adjust my position accordingly. Meanwhile, I plan to dedicate time to yield farming, research, business development, writing, and selecting worthwhile projects to collaborate with. Wishing everyone the best.