Recently, I’ve seen people watching large on-chain transfers and hot/cold wallet activity on exchanges, shouting "Smart money is coming" whenever there's movement. Honestly, I’m pretty indifferent about it... As for address profiling, it can be referenced, but don’t treat it as gospel. Labels and clustering are often just "looks like"; the same batch of funds being split, moved across bridges, and mixed again can easily cause models to mistake normal rebalancing for "institutional entry." Not to mention, some addresses deliberately act out, and I’ve seen the tricks of following their trades more than once.

Now I only look at fund flows to ask myself two questions: where did this money come from, and can I explain where it went? If I can’t explain it, I treat it as noise. After experiencing a few major crashes, I’d rather miss out than be led by narratives again. That’s it for now. I’m going to review the unused authorizations and revoke them while I’m at it.