Someone asked me how much trust those address profiling tags can really deserve. To put it simply, they can be used as a bit of jam on breakfast toast to add flavor, but don’t rely on them as the main course… Many on-chain clustering is based on habits like “same entry and exit” or “interactions within the same batch.” When dealing with market-making/ custody/ cross-chain bridges all in one pot, the tags instantly turn into a blind box, and I often get proven wrong.

I personally prefer to look at fund flows based on “changes” rather than “identity”: when the same type of address suddenly accelerates in and out, or a certain path starts to congest, that’s when it really seems like someone is making an effort. As for the recent extreme funding rates, whether the group argues about a reversal or continues to squeeze the bubble, my feeling is: the rate is like the temperature knob on a toaster—turn it too hard and it’ll burn, but before it burns, it can still be quite tasty for a while… Anyway, don’t just rely on tags for betting; first, treat your position like a thin slice of toast.