People who aren't DCAing into the market right now, what exactly are you waiting for?

I just don't understand the logic behind holding a ton of cash on the sidelines waiting for some special signal that we've hit the bottom. If anything I think the last few months have shown us that the market is anticipatory towards future events, and if you wait until you're sure X/Y/Z event is happening you've probably already missed out.
$Apple(AAPL.US)$ $Bitcoin(BTC.CC)$ $NVIDIA(NVDA.US)$ $Meta Platforms(META.US)$ $ProShares UltraPro Short QQQ ETF(SQQQ.US)$ $SPDR S&P 500 ETF(SPY.US)$