Recently, I've seen a bunch of people "copying homework" by watching whale addresses, but honestly, before following along, think carefully: are they slowly building a position, or are they using spot/perpetuals for hedging? On-chain looks like large buys, but then they turn around and open short contracts, so the net exposure actually doesn't change. If you follow, you'll just be taking on the volatility for others (don't ask me how I know).

Now I see capital flows more like a weather forecast: the same wind could mean rain or just passing clouds. Especially lately, the on-chain gaming scene has been brought up again—inflation + studio entry, and when the price drops, it spirals downward. Big players prefer to hedge and lock in risks. Anyway, I’d rather earn a little less than get scared and shake hands over “whale movements.” That’s it for now; I’ll review again tonight.