Lately I've been looking at address tagging and clustering again, and the more I look, the more uneasy I feel... To be honest, it's usable, but don't take it too seriously. A "whale/institution" label might just be a segment separated from an exchange's hot wallet, or a bunch of accounts scattered by the same group of people; clustering and merging them might look like the same entity controlling the market, but it could actually be noise. The same goes for fund flows—seeing a transaction into a CEX on-chain makes me nervous, but maybe they just switched wallets or are doing some risk management; over-interpreting can easily lead you astray.

My current approach is: treat labels only as "possible roles," not as conclusions. First, see if the structure and rhythm match; if not, pretend I didn't see it, to avoid changing plans at the last minute. By the way, I recently thought about social mining and fan tokens, always saying "attention is mining," which feels similar: address profiling mines attention, but what you really mine is your own emotions... Forget it, I’ll stick to ranges and not be led astray by labels.