Recently, Ethereum (ETH) has once again become the focus of the cryptocurrency market, as the active buying behavior of large investors has sparked widespread attention and discussion in the market.

According to the latest report from the blockchain data analysis platform LookonChain, within just 6 hours, 10 large wallet addresses cumulatively purchased 210,452 ETH from multiple well-known trading platforms, including Kraken, Galaxy Digital OTC, BitGo, and FalconX, with a total value of approximately $863 million. This astonishing figure immediately sparked heated discussions in the investment community.

Many market observers believe that this large-scale accumulation behavior may indicate that the price of Ethereum is about to experience significant volatility. Some analysts even boldly predict that ETH may be in the stage of retesting key price levels, with the potential to break through the historical high of $4900, and may even aim for a new target of $8000.

This large-scale buying behavior is often seen as a signal that institutional investors are positioning themselves ahead of a massive entry by retail investors. Historical data shows that similar whale activities often foreshadow price rebounds. For example, in June 2023, after a net inflow of 871,000 ETH (approximately $2.1 billion) in a single day, the price of ETH quickly rebounded from $2,480 to $2,750.

Currently, multiple factors seem to support the expectation of an increase in Ethereum's price. The reserves of ETH on exchanges have fallen to a multi-year low, ETF inflows have continued to exceed $11 billion, and large investors are continuously increasing their positions. These factors collectively reinforce the market's expectation of a tightening supply of ETH.

However, despite the generally optimistic market sentiment, investors should remain cautious. The high volatility of the cryptocurrency market means that price trends can experience unexpected changes. Additionally, the uncertainty of the regulatory environment may also have a significant impact on the market.

Regardless, this wave of whale purchases in Ethereum has undoubtedly injected new vitality into the market and provided investors with an opportunity for deeper reflection. In the days to come, the market will closely monitor the price trends of Ethereum to see if it can achieve the bold predictions of analysts.