Today I saw someone in the group watching "whale address moved!" again and was about to follow the trade. I really want to laugh but also feel a bit distressed… Honestly, large transfers don’t necessarily mean someone is trying to pump the market; sometimes they’re just unwinding positions, transferring between exchanges, or simply hedging. Especially those who are adding spot while opening opposite positions in perpetuals—you follow along and just feel like you’re being “led by the rhythm,” but in reality, they’re just protecting themselves. My simple method is to first see if they’re making several consecutive trades in the same direction, with positions gradually building up, or if they suddenly throw in a big order and immediately add a reverse position; the former might be building a position, while the latter is probably risk control, not a signal to make you rich.

By the way, I also thought about the recent NFT royalty debate, which is quite similar: everyone says it’s for creators, but once liquidity is involved, everyone starts passing the buck. When it’s hot, it melts away; when it cools, it takes shape… Never mind.