Since yesterday, this bull market has somewhat returned to the classic bull market of the past. After a 123000 surge and a 116000 pullback, Ethereum quickly rebounded and led a wave of gains, with the ETH/BTC exchange rate rebounding by 7%. The market was filled with news of the entry and takeover of giant whale reduction institutions. The data shows that there are currently multiple whale wallets with large transfer arbitrage exits, and institutional special funds such as BlackRock (2 million coins), Abraxas, Sharpnink (280000 coins), etc. are participating as institutions, and the market fund structure is changing. If the current trend stabilizes and the market continues to rebound, Ethereum may sprint towards the chip intensive area of 3200-3500.