This is the third time I've seen someone in the group shout "Whales are entering, hurry up and follow," and I just want to spray tea on the screen... To be honest, you first need to figure out whether they are building a position or hedging. Building a position usually involves slowly accumulating, splitting trades, and still willing to hold the cost after the transaction; hedging is different, commonly buying spot and immediately opening a short on perpetuals, looking pretty fierce on-chain, but in reality, the net exposure isn't much, just risk adjustment.

And there's an even more annoying type: first stirring up your emotions, then feeding slippage with a few trades to trap you, and finally closing both sides themselves. Modular and DA layer narratives are making developers super excited right now, while users are often confused, which is normal. The more confused they are, the easier it is to watch "smart money" copycat... Anyway, before copying, I first check if there's a reverse move or signs of position switching later on. If not, I just pretend I didn't see it to keep things simple.