According to Lookonchain, significant Ethereum accumulation by whales has been observed with large withdrawals from major cryptocurrency exchanges. Specifically, a wallet linked to Metalpha has withdrawn 29,000 ETH valued at $48.73 million from Binance since April 1. Another wallet, identified as 0xd81E, has taken out 46,577 ETH worth $97.26 million from Gate.io since February 15. Additionally, wallet 0x6034 has removed 10,091 ETH, equating to $18.8 million, from Bybit since March 12. These moves suggest strategic accumulation by large holders, potentially indicating bullish sentiment and influencing Ethereum's market dynamics.