Today I saw someone screenshot "whales entering the market" again, and the comment section immediately exploded... I’m honestly a bit panicked. To be clear, you need to think carefully first: Are they building a position, or are they hedging or moving margin for other positions, or even adjusting liquidation lines? Especially when it comes to lending, on-chain it looks like they’re increasing their position, but it might actually be shifting risk from pocket A to pocket B, leaving retail traders with only high volatility.

Recently, the staking/shared security yield stacking has been criticized as "pyramid schemes," and I can understand that. The more layers there are, the harder it is to see who’s actually backing it. Anyway, I’m now mainly watching my own LTV and liquidation price, preferring to earn less and clearly mark the escape routes.

I still believe that risk control thresholds are more reliable than the "smart money" screenshots.