On-chain data shows that a big whale's recent activity has been quite aggressive. Over ten hours ago, this address withdrew 1139 ETH from an exchange. At the time of withdrawal, the price was approximately $3,071.68 per ETH, which amounts to about $3.5 million.

What's even more interesting is that this whale has a real knack for swing trading. Between December 28 of last year and January 6 of this year, it made $807,000 through ETH swing trading. The stability and execution ability of such short-term operations are indeed worth the attention of market participants. It seems that in this market cycle, large capital has a keener sense of smell.