The Ethereum (ETH) market has recently undergone significant changes, with the movements of large funds attracting close attention from investors. A series of large transactions and market signals indicate that the $3600 threshold for ETH may become the focal point of a new round of speculation.

According to observations, a large holder purchased nearly 50 million USD worth of ETH, totaling 13,224 coins, in just 8 hours. This move is seen as a positive signal for the long-term trend of ETH. Meanwhile, another investor demonstrated excellent trading skills, profiting 1.364 million USD by flexibly converting between ETH and WBTC during the 48.7% rise in ETH prices.

However, there is also potential selling pressure in the market. Reports suggest that a mysterious investor has transferred over $10 million worth of ETH to the exchange, which may indicate an impending large-scale sell-off.

At the same time, there is good news coming from the NFT market. The floor price of the Moonbirds project skyrocketed by 199% within a week, reaching 1.88ETH, indicating that the popularity of the NFT market remains strong.

From a technical perspective, the ETH price is currently in a key triangular consolidation range. $3770 has become a strong resistance level, while $3725 is an important support level. The MACD indicator is about to form a death cross, which may trigger further declines.

The inflow and outflow of large funds also reflect market divergence. Although a large amount of ETH has been purchased, there are also some funds choosing to withdraw, indicating differing opinions in the price range around $3750.

In the short term, the ETH price may fluctuate between $3720 and $3770. On one hand, there are profit-taking funds choosing to cash out; on the other hand, institutions are still continuously building positions. This confrontation of forces may lead to price fluctuations within a certain range.

The sudden surge in the NFT market is also worth following. Projects like Moonbirds have seen significant growth, which may drive the overall activity of the NFT ecosystem and consequently affect the demand and price of ETH.

Overall, the Ethereum market is at a critical turning point. Investors need to closely follow the movements of large capital, changes in technical indicators, and the development of the related ecosystem in order to better grasp market trends.