These days I've been looking at those address profiling/tag clustering, like "whales," "smart money," "hot wallets on exchanges"… To be honest, they can be referenced, but don’t treat them as gospel. I previously followed the "smart money" for copying trades, but I realized they are doing market making/hedging, while I was just following emotional trades. I learned nothing and even turned myself into a contrarian indicator.

Plus, recently some regions have been adjusting taxes and compliance policies—sometimes tightening, sometimes loosening—causing deposit and withdrawal expectations to shift. The on-chain fund flows look like a "flow in and out" story, but in reality, many are just moving assets around, shell swapping to hedge risks, making tags even more prone to misinterpretation.

Now I’ve scaled down my goals: I don’t chase "the group that makes the most money," I only focus on the flow and positions I can understand, and keep my positions from being too full. This way, I can stick with it longer. Otherwise, every time I see a bunch of tags, I get tempted to act, but then I get slapped in the face. Forget it.