An anonymous whale has withdrawn a further 19,550 ETH, valued at $70.7 million, from the FalconX exchange, according to data from Lookonchain. This significant withdrawal continues a trend observed over the past week, with the whale pulling a total of 122,691 ETH, worth approximately $440 million, off of exchanges. What Does This ETH Withdrawal Mean? Large exchange withdrawals are often interpreted as a bullish signal, indicating a desire to hold the asset long-term rather than trade it. This suggests the whale anticipates future price appreciation in Ethereum. Moving ETH to cold storage wallets reduces the immediate selling pressure on the market, potentially supporting higher prices. This accumulation trend by a large player reinforces the belief that ETH could be undervalued at current levels. Traders are closely watching whale activity for cues on market direction, adding weight to the significance of this continued ETH accumulation. ```

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