Ethereum holders are beginning to take profits again as Ether remains near the $4,300 mark, with short positions indicating some skepticism about a sustained rally.
Onchain analytics platform Glassnode reports that short-term Ether holders are realizing profits more aggressively than long-term holders, suggesting that short-term traders may be anticipating a near-term price pullback.
“Short-term investors are realizing far more gains, driving the current wave,” Glassnode noted in a post on X Monday.
Short-term Ether holders are beginning to take profits
Glassnode reports that Ether profit realization, tracked by the seven-day simple moving average, averages around $553 million per day, largely driven by short-term investors.
Ether long-term holders—those holding ETH for over 155 days—have been more cautious, with Glassnode noting their profit-taking levels are similar to those seen in December 2024.
Overall profit realization remains about 39% below last month’s peak daily average, when ETH was trading near $3,500.
Meanwhile, Ether has risen 43% over the past 30 days and is currently trading at $4,283, according to Nansen.
The cryptocurrency is currently trading about 12.7% below its all-time high of $4,828, last reached in November 2021, but indicators suggest traders remain cautious about a near-term return to that level.
Data from CoinGlass reveals that approximately $2.23 billion in positions could be liquidated if the price approaches $4,700.
This caution may stem from earlier market sentiment, especially after Ether dropped below $2,000 in March. Several rally attempts failed before the recent surge, catching many traders off guard.
On Saturday, BitMEX co-founder and Bitcoin billionaire Arthur Hayes revealed he bought back into Ethereum just a week after selling $10.5 million worth when the price was at $3,507.
$4,300 has become a crucial level for Ether to break through
Since Sunday, ETH has crossed above $4,300 multiple times, only to fall back below that level.
This activity coincides with increasing institutional interest in Ether, though analysts remain divided on whether prices will continue to rise.
Santiment analyst Brian Quinlivan noted on Saturday that public announcements of large institutional purchases can spark FOMO, which may temporarily stall or even push Ether’s price lower.
