Lately, looking at those on-chain “tags/clusters/smart money” images, the more I look, the more uneasy I feel… to put it plainly, they can help me narrow down the field, but if I treat them like the Bible, it’s easy to get led astray. An address might look like a big player today, but tomorrow it could just be multi-sig moving funds, or an exchange hot wallet rebalancing. You and I are still out there copying trades—until the scalp is numb from it.

What’s even more wild is that with fee rates pushed to extremes, the group immediately splits into two camps: one claiming a reversal is coming, the other saying to keep squeezing the bubble and don’t be scared. I’m impulsive, so when I see “funds flowing into XX address,” my hands start itching to act, but recently I’ve forced myself to ask one more question: is this money “entering the market,” or is it just fake action like “changing a mask/bridging/market making”? In any case, don’t rush to go leverage first. “Tasty instant noodles with extra toppings” is tasty—burning your mouth is real, too.