Ethereum has surged by over 44% in just three days, reaching an all-time high of $2,600 and surpassing its January 2021 peak. This impressive rally coincides with a series of massive withdrawals from exchanges by crypto investment firm Abraxas Capital, who moved almost $400 million worth of Ethereum off exchanges in the last 72 hours. Institutional investors are increasingly confident in Ethereum’s long-term prospects due to this aggressive accumulation. The price surge has also reversed a slump in profitability for Ethereum addresses, with over 60% now holding profits. Ethereum is bouncing back after experiencing volatility earlier this year, and experts have noticed bullish trends like the MACD flipping bullish on the weekly chart, and a five-year trendline being reclaimed by ETH.