Recently, I've seen a flood of screenshots of "whale addresses entering the market" everywhere. Don't rush to follow the trades... My first reaction now is to see if it's hedging: sending coins to the exchange at the same time, then withdrawing stablecoins, or opening a reverse position on-chain. Many times, it's just repositioning, not adding more. To put it simply, building a position usually involves gradually accumulating, with address interactions increasing; hedging is more like a back-and-forth between the left and right hands, with short paths but high frequency.

By the way, I'm also quite annoyed by the current narratives around social mining and fan tokens. Attention can indeed be monetized, but attention is also the easiest to be targeted by phishing scripts and fake KOLs to "mine your wallet." Anyway, I take two steps before dealing with whales: marking address clusters, checking the source/destination of funds. If I can't figure it out, I don't move, to avoid becoming someone else's liquidity.