Recently, I’ve seen a bunch of screenshots of "whale addresses moving," and the comment section immediately starts copying trades... I feel a bit amused and a little anxious at the same time. To be honest, the money of big players isn’t just one emotion; transferring funds could be for building positions, or it could just be for hedging, arbitrage, moving to cold wallets, or even stocking up for OTC. Following these moves is the easiest way to get caught in someone else’s risk control.

Right now, when I look at the blockchain, I focus first on whether trading volume and volatility are aligned: if volume increases but volatility doesn’t pick up, it often looks more like a slow buildup; conversely, if volatility spikes but volume doesn’t follow, it might just be a tug-of-war for hedging. Recently, there’s been talk of increased taxes and tighter compliance, so deposit and withdrawal expectations are changing. Many "whale actions" are actually just laying the groundwork first—whether to follow or not, you really need to think it through... I still believe, but I trust myself more not to get carried away.