I feel like lately there are more people copying "whale addresses," but I prefer to treat it as noise: the same large transaction could be for building a position or just hedging other positions, and getting the direction wrong is worse than blindly opening orders. Especially in lending, big players often use a common strategy of placing both spot and perpetual positions, then using collateral to roll over, and seeing "bought" on-chain doesn't mean "bullish." I usually check if they're also borrowing stablecoins, if the interest rates suddenly spike, or if the liquidation line is close or far... the ones close are often more about shifting risk, not attacking. Recently, ETF capital flows and US stock market risk appetite are used to rigidly explain price movements, but I also watch that, though honestly, those narratives are too coarse. When it comes to individual positions, you still need to keep leverage and liquidation lines in check—I don't want to be dreaming anyway.