Recently, I've seen people treat on-chain large transfers and exchange hot and cold wallets as "smart money" and chase after interpretations... I also enjoy watching the excitement, but honestly, address profiling is quite "mysterious."

Many tags are manually attached, and clustering is more like guessing: the same fee habits, the same interaction contracts = the same person? Sometimes yes, sometimes completely mistaken.
Not to mention OTC, custody, multi-signature, robots mixed together, which ultimately turns into "a certain whale is moving," but it might just be switching wallets, queuing, batching, or I had to refresh/retry for a long time to see the status update.
Anyway, I now treat tags only as clues, not conclusions.
If I really want to analyze, I first break down the contract/path to avoid being led astray by a single "profile."