The whales are crazy and have a heavy position of 300,000 ETH, and the last time it was one million.

The market has high expectations for the follow-up of Ethereum ETFs, and Ethereum's current upside is indeed good.

However, this strength and market. I have to suspect that it is an institutional move.

Ethereum permanent holders have recently seized the opportunity of the market downturn and accumulated a large amount of ETH. The single-day purchase volume reached 298,000 ETH, setting a record for the second largest purchase volume in history.

Ethereum has strong institutional support, as can be seen from recent on-chain indicators. Large withdrawals from exchanges such as Coinbase (one of which exceeded 300,000 ETH at a time).

The overall market sees a steady outflow of funds from trading platforms, which is a bullish indicator for ETH.

Ethereum price prediction and key levels

ETH must maintain the $3,500 support level to drive it up to $4,000. Holding the $3,500 support level may be the key to future gains.

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