Just saw a bunch of people reposting "Whale bought XX," and I almost clicked the follow button but pulled back... Honestly, whale addresses look intimidating, but you first need to distinguish whether they are building a position or hedging. Large spot inflows don't necessarily mean a price rally; sometimes it's just to cover margin for futures positions, or the other side has already opened a counter order, specifically to eat up traders who chase and copy.

My current habit is: at the same time, observe their on-chain fund flows + exchange net inflow, then see if there are obvious dispersions across multiple addresses or repeated buy-sell cycles. The more "like risk control" actions they take, the less I dare to treat it as a signal. Especially recently, with the heated debates over privacy coins and mixing services, the boundary of compliance is noisy, and some fund flows are hard to see clearly—more like gambling. Anyway, I’d rather miss out than become liquidity... That’s it for now.