Mining on-chain data until midnight, watching those "tagged addresses" and "whale clusters" as if reading the weather forecast… It's quite informative, but don’t take it too seriously. Many profiles are pieced together retroactively: changing exchange hot and cold wallets, splitting funds into many small accounts and then regrouping them, what you see as "smart money" might just be passersby moving funds around. Anyway, I now trust the rhythm of capital flow more: repeated inflows and outflows of the same batch of money, shorter holding times—this is more reliable than "certain address = certain institution."

Recently, there's been talk about increasing taxes and tightening compliance in some regions, and when deposit and withdrawal expectations fluctuate, on-chain activity tends to show signs of "fleeing first"—not panic crashes, but quietly lengthening paths and reducing frequency. To put it simply, tags can serve as landmarks, but don’t treat them as maps; if you're really going to act, it’s better to observe the market sentiment for a few more days and not get trapped by a single profile.