Recently, whenever on-chain whales move, a bunch of people rush to follow, and I'm honestly a bit scared... The same large buy-in could be for building a position or it could be the other leg of a hedge elsewhere. Following the copycat is actually copying someone’s insurance policy. Especially now, with all the noise about interest rate cut expectations, whether the US dollar index and risk assets are rising and falling together, in plain terms, once the sentiment changes, whales can turn hostile before you even have time to react. Anyway, when I see a large order now, I first think: they can afford to lose, I can't; where the knife is, then decide whether to get itchy or not.