I just saw a bunch of screenshots of people saying "Whale bought again," and the group immediately started copying the trades. I hesitated and closed the trading interface again... I analyze it thoroughly verbally, but still hold an empty position, just the familiar pattern.

To put it simply, a whale address moving doesn't mean they are building a position; they might be hedging, moving margin, splitting addresses for risk control, or even just making it visible to you. It's best to first see if they are adding positions continuously, whether there is a matching deposit and withdrawal rhythm, otherwise if you chase in, they might just be passing the risk onto you.

Recently, the main public chain is about to upgrade/maintain, and everyone is guessing whether the ecosystem will migrate. I dare not act recklessly anymore. Whether it migrates or not, the on-chain net inflow and trading volume haven't kept up, so let's just watch the excitement... for now.