It is important to note that this analysis is for informational purposes only and should not be construed as financial advice; readers are urged to conduct their own research before making investment decisions.

These large holders are defined as addresses that possess more than 0.1% of ETH's circulating supply, and their increased netflow suggests a growing confidence in ETH's future value.

In a positive development for the market, ETH-backed exchange-traded funds (ETFs) saw their first net inflow in eight weeks, with $157.09 million flowing in from April 21 to April 25, reversing a prior outflow of over $700 million.

The current positive Balance of Power (BoP) for ETH, sitting at 0.31, indicates that buying pressure is outpacing selling pressure, which may signal potential upward momentum in ETH's price.

Ethereum's major holders, known as whales, are re-entering the market, signaling a shift in sentiment as they accumulate ETH during a period of market consolidation.

If this bullish trend continues, ETH could potentially rally back above $2,000, with projections suggesting a target around $2,027; however, a downturn in market sentiment could see prices drop to approximately $1,385.

Recent on-chain data reveals a staggering 2,682% increase in netflow for large holders of ETH over the past week, indicating an aggressive accumulation strategy among these investors.