ETH Perpetual Contract Market Observation: Recent whale movements are worth paying attention to. Data shows that large traders have re-established long positions after Ethereum retested the whale VWAP (perpetual market), with a scale of $400 million, bringing the current net position to $542 million. Throughout the weekend, prices repeatedly tested and consolidated above the whale VWAP, which usually indicates that the bulls are consolidating support levels. Meanwhile, order book data shows large order placements—often suggesting potential liquidity battles or breakout opportunities ahead. From the position structure, the whale re-entry signals are relatively clear, and subsequent focus should be on whether the price can effectively break through the upper resistance.