Since January 23, there has been a significant and sudden withdrawal of ETH from the exchange, resulting in an 800K ETH reduction in the on-exchange balance. This corresponds to approximately $1.76 billion at the average price of $2200.

Wintermute has also been actively accumulating ETH from the Binance exchange over the past 9 hours, with a total volume of $20.1 million. Wintermute appears to be bullish on ETH, especially considering recent updates related to the manipulation of the $PENDLE price.