Actually, everyone understands that when whales' addresses move, they want to follow and buy in. But first, let me ask: are they building a position, or are they holding spot to hedge against futures? Both look like "buy," but the results could be completely opposite.

Right now, I see large amounts entering exchanges, but I prefer to hold back first, look at open interest and funding rates, and don't mistake "arbitrage/hedging" for "faith-based buying."
Recently, with taxes increasing and regulations tightening and loosening, deposit and withdrawal expectations have changed, and whales prefer to hedge more. Retail investors are still caught up in the climax of the story...
Forget it, just survive first.