I see a bunch of people watching whale addresses and trying to follow their trades. Honestly, you haven't even figured out whether they're building a position or hedging. On-chain buying is lively, but on the other side, they might be opening perpetual shorts or buying options for protection; the net risk hasn't changed at all. Following along just copies the surface. Recently, someone also discussed tax increases and tightening or loosening regulations in certain regions. As deposit and withdrawal expectations change, whales prefer to do hedging, and their actions seem repetitive, but they're actually reducing volatility, not bullish. As for "long-term"? For me, it's not about annualized returns. If you can withstand a round of news and a round of emotional reversal, maybe about a quarter—enough to see who's just hyping and who's actually harvesting.