Lately I keep seeing screenshots saying "Whales are opening long/short positions again, hurry up and follow," but I'm just someone who monitors funding rates and on-chain data from L2s. Honestly, I want to say: first, figure out whether that order is opening a position or hedging. Many large orders look very aggressive in direction, but in reality, it's just spot + perpetual contracts doing a flip, with perpetuals possibly just used to suppress risk. Following in would just mean you're buying insurance for them... To put it plainly, don't just look at the size of the position; at least check if there are opposite orders at the same time or if the funding rate suddenly shifts against them. The same goes for blockchain games where inflation + studio activity + coin price spiral into a crash—on the surface, trading volume looks hot, but underneath, it's just hedging each other and draining liquidity. Anyway, for me: if I don't understand, I reduce my position size, set stop-losses first, and go from there.