Recently, I saw people arguing about the label system of on-chain data tools. Honestly, it’s pretty normal—labels and clustering were always a bit of a “hindsight expert” kind of thing. If an address gets tagged as a “big whale/institution/smart money,” I’ll take it with a grain of salt and wait for it to be priced at a 70% discount first—especially with new wallets or those that temporarily switch their “shell.” If someone wants to mislead, it’s not that hard.

If back then I’d been more superstitious about those charts that say “funds flowing to XX,” I probably would’ve been chasing the excitement… Later, I realized that many of these so-called profiles are just lumping together addresses with similar behavior patterns. And inside, it could include exchange hot wallets, people farming air-drops or “hair,” or even project teams moving funds around with their own “left hand to right hand.” In any case, nowadays I treat labels more like a thermometer for sentiment: what people believe in, what they’re afraid of—not like some kind of decree. Don’t get carried away when prices rise, and don’t panic when they fall. Put the phrase “it might be wrong” first.