The morning alarm went off three times before I finally got up, and I casually checked a large transfer on the chain, then someone started flooding the sky with screenshots of "whale copy trading." To put it simply, first figure out whether they are building a position or hedging; otherwise, you might think they are bottom fishing, but they might just be dumping spot assets onto the exchange while opening a short on the other side to lock in risk... If you follow in, you become liquidity.

I usually take a closer look: whether there are borrowing/perpetual actions before and after the same address, whether the transfers into the exchange are in batches, and whether they transfer out immediately. Recently, during the airdrop season, task platforms are as competitive as clocking in for work, and everyone's mentality is more anxious, making it easier to be led by "smart money." Slow down first; better to miss a segment than to blindly follow others' hedging orders.