Two critical catalysts are shaping Ethereum's near-term trajectory right now. The Clarity Act hits the Senate floor tomorrow (15th) - and this legislative move could fundamentally shift how crypto assets are treated in U.S. policy. Simultaneously, the BNMR shareholder vote looms as another heavyweight decision impacting market sentiment. These aren't your typical price movers; they're the kind of events that reshape investor confidence and regulatory clarity around ETH trading. Market participants are closely watching how the Senate approaches the Clarity Act, especially given its potential to define clearer guidelines for cryptocurrency regulation. Paired with institutional voting decisions like the BNMR shareholder resolution, ETH's short-term price action could swing dramatically. Understanding these dual pressures is key to positioning correctly in the current market environment.

Current market snapshot worth noting: Bitcoin has surged lately, yet it's still trading 24.7% shy of its all-time high. Ethereum's picture looks steeper—down 33.5% from peak. Even with the recent momentum, both major assets face considerable ground to cover before reclaiming previous records.

Once again, large holders are moving their chips. According to on-chain data, a whale account that has been dormant for a long time just transferred 2,015 ETH to an exchange, resulting in an unrealized loss of $2.04 million. What does this kind of large transfer usually indicate? Some are forced to exit to cut losses, while others are preparing for subsequent actions. The transfer of over 2,000 ETH into an exchange could put short-term pressure on market liquidity. It is worth noting that such whale activities are often early indicators of changes in market sentiment. Whether actively adjusting positions or passively responding, every move by these large funds is releasing market signals.