Lately, I've been watching a bunch of people fixate on whale addresses and want to copy their trades.

I'm honestly a bit panicked: what you see as "buying" might just be them building a position in spot, or it could be for hedging on perpetuals, the directions are completely different.
Especially those who enter and immediately disperse funds into several pools/routes, they might just be controlling slippage and avoiding sandwich attacks, not actually "bullish."
Later, I realized it's pretty funny—everyone treats on-chain data like candlestick charts, but end up becoming liquidity themselves.
By the way, recently RWA, US bond yields, and on-chain yield products are often compared, but I'm more concerned about: where does the yield come from, can I withdraw anytime, and whether congestion might cause me to lose everything due to slippage.
Anyway, I first check if they are opening opposite positions elsewhere before building a position, and only then do I decide, otherwise I’d rather miss out.