According to Lookonchain, Abraxas Capital has withdrawn 138,511 ETH, valued at approximately $297 million, from exchanges over the past two days (source: x.com/lookonchain). This substantial outflow indicates significant accumulation activity, which typically reduces immediate sell pressure on Ethereum markets. Such large-scale withdrawals are often interpreted by traders as a bullish signal, suggesting confidence in future ETH price appreciation. The event is likely to drive increased volatility and could spark renewed interest in ETH trading pairs across major crypto exchanges.

According to Crypto Rover (@rovercrc), there is increasing bullish sentiment around Ethereum (ETH) potentially reaching the $10,000 price level. While the tweet expresses strong optimism, current technical analysis and market data do not confirm a guaranteed path to this target. Traders should monitor Ethereum’s price action, on-chain metrics, and spot ETF developments, as institutional interest remains a key driver in the crypto market (source: Crypto Rover Twitter, 2025-05-08; Glassnode Analytics, 2025-05-07). This sentiment may increase short-term volatility and trading volume on ETH pairs, offering potential opportunities for active traders seeking momentum plays.