According to Cas Abbé, over the past month, 1.1 million ETH valued at $2.75 billion have been withdrawn from crypto exchanges, indicating a significant decrease in liquid supply (source: @cas_abbe on Twitter, May 18, 2025). Whale accumulation further highlights that the current ETH price increase is being driven by spot market demand rather than derivatives. For traders, this sharp reduction in exchange balances suggests increasing holder conviction and potential for reduced sell pressure, key factors that could support continued upward momentum in Ethereum price. These developments are critical for market participants monitoring supply-demand dynamics and planning ETH entry or exit points.