Ethereum has experienced a surge in activity, with nearly $1 billion worth of ETH withdrawn from exchanges within 48 hours, suggesting potential bullish momentum. This withdrawal coincides with Ethereum's price climbing to nearly $4,900, a significant recovery from its previous low of $1,400. Analysts point to reduced selling pressure and filled CME gaps as factors that could support further price increases. The developments have fueled speculation of an impending altcoin season, with the ETH/BTC chart showing promising signs. The crypto market's continuous operation allows for rapid shifts, attracting interest from both retail and institutional investors who are accumulating Ethereum, potentially driving further growth.