It's about the story of the money, and you see it clearly when you watch wallets that consistently win big, holding right till the end.
But sometimes, this isn't a bad actor; it's a clever trader who just knows how to play the odds, like someone who always wins at the local poker game because they study the tells, not because they're peeking at cards.
This distinction is especially tough in smaller markets, where even a little bit of smart money can look like a whale.