Recently, the Ethereum (ETH) market has shown some noteworthy movements. It has been observed that a wallet suspected to be related to DeFiance Capital has made a large purchase of 30,366 ETH in just 28 hours, with a total value of approximately $114 million. This action has sparked speculation in the market about a potential rebound for ETH.

At the same time, the well-known figure Justin Sun recently withdrew 60,000 ETH from Binance, further intensifying the bullish sentiment in the market. This large-scale capital flow seems to suggest that major investors are optimistic about the future of ETH.

It is worth noting that approximately 310,000 ETH have flowed out of centralized exchanges (CEX) in the past 72 hours. This phenomenon is typically interpreted as investors leaning towards long-term holding rather than short-term trading.

However, we should not overlook an important factor: currently, approximately 0.76% of ETH is permanently locked, which means that the circulating supply in the market is gradually decreasing. The contraction of supply may exert potential upward pressure on the price of ETH.

Considering these factors, the short-term price trend of ETH may experience some surprising changes. For investors focusing on the cryptocurrency market, closely monitoring the movements of these large wallet addresses may present potential investment opportunities. However, we also want to remind that the cryptocurrency market is traditionally highly volatile, and investors should carefully consider and comprehensively assess risks before making any decisions.