Last night, I saw someone on the blockchain screenshotting and saying "a whale has entered the market," and the group immediately started discussing whether to follow.

When I clicked in to check, that address was adding to spot holdings on one side while opening perpetual positions in the opposite direction, and the positions were quite balanced...
Basically, this looks more like hedging rather than a "all-in" type of position building.
I also happened to see that the main public chain is about to upgrade and maintain, and everyone is guessing whether the ecosystem will move, which makes the atmosphere even more excitable.

Now, I only watch two things about whale movements:
Is he gradually increasing, and are there protective measures in place (hedging, spreading across multiple addresses, or synchronized changes in lending)?
Following others' trades, I think, isn't about being slow; it's about not mistaking their risk control as a "bullish signal."
Anyway, I prefer to eat less myself and don't want to be fuel when others are adjusting their positions, so for now, that's how I see it.