Lately, I've been looking at addresses with "tags/clusters/funding flow" profiles again, basically labeling on-chain addresses. My current mindset is: it's okay to reference, but don't trust it too much, especially those that insist "institutions are buying / whales are selling," which just makes you easily get carried away. Many addresses are actually exchange hot wallets, market-making sub-accounts, or bots bouncing back and forth. When the clustering algorithm changes its rules, the conclusions change too, just like watching order book sentiment—it's possible to get a hint, but don't treat it as gospel.

In the past couple of days, before and after the main public chain upgrades, the group has been guessing whether ecosystem projects will migrate. I also checked the fund flows, and the more I looked, the more anxious I became: on-chain activity doesn't necessarily mean moving; it could just be pre-positioning, risk control, or multi-signature key swaps... Anyway, after lowering my expectations, I felt more relaxed. I'd rather do fewer trades than chase after "profiles" in a panic at night. That's it for now; I don't want to add to my position today.