Just a fortnight ago, a Whale saw an opportunity in the ETH dip and decide to buy over a 100k ETH and stake them all at $4.1k; another sold his BTC and opened a long position for ETH on an exchange. Then suddenly the floodgates opened and more Whales began "dumping" to buy more ETH. Any obvious reason for the flow of liquidity into ETH? Be my guess!
While others were busy analysing the market, these guys acted promptly. Put that into perspective now; ETH has since reach a new ATH since then and hasn't returned to that "bottom" after those moves.
Whenever you see a coin being concentrated on by the whales, it shows the tendency for rising, while these same whales have noticed for this and are interested to also support in helping this come more faster by investing more on it, but don't be surprised that the moment they all left the coin to another one, things are going to be more worse than before and those that were left unaware may be in serious loss with the expectation of the market pumping again soon.