Last night before bed, I saw someone staring at a "whale address" and preparing to copy the trade, and I started to hesitate: Is that big order you saw really opening a position, or are they hedging or locking in a position on the other side? To put it simply, big players often walk on two legs; on-chain it looks like they are rushing in, but it might just be topping up margin or moving risk somewhere else. Recently, the funding rates have been extreme again, and the group is arguing whether it's a reversal or just more bubble squeezing. I definitely don't dare to chase based on a screenshot alone. If I were to consider it, I’d first check if they opened a reverse position at the same time, whether the fund flow has returned to the exchange… I’d try with a small amount myself, keeping the address and device separate—more trouble, but I sleep better.