Recently, I saw someone focusing on "whale addresses" and wanted to follow their trades.

I'm a bit hesitant myself... The same large transfer in could be for building a position, or it could be using spot to hedge a contract, the directions are completely different.
Honestly, first see if they immediately put the coins into perp margin, or withdraw from CEX at the same time and deposit into the lending pool.
Last night, I spotted a transfer of 1,200 ETH to the wallet 0x8f…a3, and a few minutes later, it was divided into three parts and added to the margin of a certain perpetual.
It didn’t really feel like "I want to push."
Now the macro side is arguing about rate cut expectations, whether the US dollar index and risk assets are moving together, and the more they talk, the more it looks like a "seemingly aggressive but actually defensive" position.
Anyway, with my small hands, if I dare to follow, I only do small amounts in a few batches, leaving a retreat route, and not taking others’ hedges as my own faith.