Recently, I’ve been scrolling through those screenshots of “tags/clusters/smart money” again, and the more I look, the more it feels like staring at the reflection outside a fish tank… To put it plainly, address profiling can be used as a reference, but don’t treat it as the truth. Someone may hold a dozen or so wallets, mixing hot and cold storage across exchanges, and even teams/market makers/taking advantage together—sharing the same route. On-chain, it looks like a certain “style,” but it might just be someone passing through. Especially when something goes wrong, it gets even more chaotic: a few days ago, during that cross-chain bridge theft, the funds were split up and rerouted, and the tags instantly stopped working—you think you’re tracking whales, but you’re actually tracking a cloud of fog. The “wait for confirmation” everyone collectively does after abnormal oracle quotes is also pretty interesting. Even though there are obviously lots of on-chain actions, the sentiment just pulls back. So the profiling naturally looks more like “conservatives,” but in reality they’re just afraid of stepping on mines. Anyway, I mostly use tags now just to remind myself: don’t chase. That’s it.