These days, I've been staring at whale addresses until my eyes are sore... But I sincerely remind myself: before copying trades, think carefully about whether they are building a position or hedging. Many big players buy aggressively on the chain, then immediately open short positions on perpetuals; their net exposure isn't as "all-in" as you might think, and if you follow in, you'll end up with a purely naked long.

Especially now, with RWA and comparing US Treasury yields to on-chain yield products, this wave is quite hot. It feels like money is moving back and forth between different pools more frequently. Seeing "adding to position" on-chain doesn't necessarily mean bullish; it might just be for yield or protection. Anyway, my current habit is: check if the same wallet has opened opposite positions simultaneously, or if they've thrown tokens into lending/yield contracts. If I don't understand clearly, I wait in line... I won't step in. It's urgent, but education makes me even more urgent.