Ethereum holders are starting to take profits again as Ether has continued to hover around $4,300 and short positions suggest there’s some doubt of a continued rally.
According to the onchain analytics platform Glassnode, short-term Ether holders have been taking profits more aggressively than long-term holders, which could suggest short-term traders may be expecting a near-term pullback in Ether’s (ETH) price.
“Short-term investors are realizing far more gains, driving the current wave,” Glassnode said in an X post on Monday.
Ether short-term holders are starting to take profits
According to Glassnode, Ether profit realization — measured by the seven-day simple moving average — is about $553 million per day, with most of this being driven by short-term investors.
Ether long-term holders — those holding ETH for more than 155 days — haven’t been as trigger-happy. Glassnode said this cohort is taking profits at a similar level to December 2024.
The overall profit realization is still approximately 39% lower than the peak daily profit-taking average last month, when ETH was trading near $3,500.
Meanwhile, Ether is up 43% over the past 30 days, trading at $4,283, according to Nansen.
The cryptocurrency is trading approximately 12.7% below its all-time high of $4,828 last seen in November 2021, but some signs show that traders are hesitant about a near-term return to that level.
CoinGlass data shows roughly $2.23 billion in positions could be liquidated if the price nears $4,700.
The hesitancy may be tied to the sentiment earlier this year, particularly after Ether slipped below $2,000 in March. Several rally attempts fizzled before the current surge, leaving many traders caught off guard.
On Saturday, BitMEX co-founder and Bitcoin billionaire Arthur Hayes said he had bought back into Ethereum just a week after selling $10.5 million when it was trading at $3,507.
$4.3K is now a key level for Ether to surpass
Since Sunday, ETH tipped above $4,300 on several occasions only to dip back below.
It comes amid growing institutional interest in Ether, though analysts are split on whether prices will keep climbing.
Related: Arthur Hayes buys ETH back at higher prices, pinky swears to never sell
Santiment analyst Brian Quinlivan said on Saturday that public news of big institutional buys can trigger FOMO that may briefly stall or even push Ether’s price down.
Cointelegraph reported on Monday that the total Ether held by companies with crypto treasuries has risen to 3.04 million ETH, worth approximately $13 billion.
Magazine: How Ethereum treasury companies could spark ‘DeFi Summer 2.0’
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
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