Recently, I’ve seen people staring at whale addresses and wanting to follow the trades. I’m also tempted—but honestly, the first thing is to figure out whether they’re building a position or hedging. Sometimes they buy spot while also opening short positions at the same time; it could just be to lock in volatility. If we follow and rush in, then we end up taking on the risk for others. Especially lately, with all the chatter about rate-cut expectations and the US Dollar Index, risk assets start rising and falling together again, and it’s really easy for emotions to get dragged along. Anyway, for now I’d rather move slower—see whether they keep adding to their positions afterward and whether their holdings keep rolling into something bigger, then decide whether to follow. Don’t rush. Just treat yourself as someone taking a long walk for the long term. Alright, I’m going to get to work.