Since yesterday, this round of the bull market has somewhat returned to the classic appearance of previous bull markets. Bitcoin surged to 123,000 and stabilized at 116,000 after a correction, with Ethereum quickly rebounding and leading a wave of increases, with the ETH/BTC exchange rate rebounding by 7%. The market is currently flooded with news of large whales reducing their positions and institutions stepping in. Data shows that multiple whale wallets are making large transfers to arbitrage out, and institutional funds such as BlackRock (2 million coins), Abraxas, and Sharplink (280,000 coins) are participating as institutions, indicating a change in market funding structure. If this trend stabilizes and Bitcoin continues to rebound, Ethereum may sprint towards the densely concentrated area of 3,200-3,500.