Despite Ethereum’s ongoing downtrend and shaky market conditions, whales – the largest holders of cryptocurrencies – are displaying significant interest in purchasing ETH. Recent on-chain data reveals large withdrawals from prominent exchanges, raising questions: what insights do these massive buyers possess that we might not be privy to? 29,000 ETH worth over $48 million was withdrawn from Binance by one wallet linked to the Metalpha group and another moved approximately 46,577 ETH worth nearly $97 million from Gate.io since mid-February. While prices remain weak and market indicators point towards a downward trend, these significant purchases are prompting analysts to ponder: What information do these whales possess that sheds light on the future direction of Ethereum?