Abraxas Capital Embraces Bullish Market Shift with $297 Million ETH Withdrawal

London-based asset management firm Abraxas Capital has withdrawn a substantial sum of Ethereum (ETH) worth $297 million in the past two days. This withdrawal, totaling 138,511 ETH, coincides with a surge in Ethereum’s price, jumping over 20% within 24 hours to reach a new all-time high of $2,371 before settling near $2,295. The size and timing of this withdrawal are interpreted by analysts as a sign of bullish sentiment, suggesting a shift towards long-term investment rather than short-term selling.