Why in the crypto derivatives market is "copying losses" sometimes more effective than blindly guessing the direction? The core is not about how skillful reverse trading is, but that the market data structure has changed.

In traditional CEXs, most trading information is a black box. You can only see the price, candlesticks, and trading volume, but you cannot see who is adding positions behind the scenes, who is holding the orders, who is chasing gains and losses with high leverage, or who is repeatedly testing the edge of liquidation.