The moment TVL drops, I start to panic again. But lately I’ve been watching on-chain large transfers and noticed that many people directly treat suspicious movements between exchange hot and cold wallets as “smart money” and follow along. It’s actually pretty dangerous. If a whale moves, you need to figure out whether it’s building a position or hedging. Sometimes they’re just shifting positions for risk management, and if you follow in, you end up being the bag holder. I’ve replayed things myself a few times—I’ve been fooled by so-called “large inflows.” In the end, the other side was just posting orders to make a market. Anyway, now when I see any unusual movement, I’ll stay calm first, watch the address history and behavior patterns more, say I’m bearish out loud while still secretly figuring out how to track the right direction. Forget it—let’s call it there. I’ll keep monitoring the market.