Ethereum holders are beginning to lock in gains again as ETH has hovered around $4,300, with short positions indicating some skepticism over the rally’s continuation.

Data from Glassnode shows short-term Ether holders are taking profits more aggressively than long-term holders, hinting that traders with shorter time horizons may be anticipating a price pullback. “Short-term investors are realizing far more gains, driving the current wave,” Glassnode said in an X post on Monday.

Glassnode estimates Ether profit realization, based on a seven-day simple moving average, at about $553 million per day, primarily from short-term investors. Long-term holders — those holding ETH for more than 155 days — are taking profit at a pace similar to December 2024. Overall profit realization remains roughly 39% below last month’s peak, when ETH traded near $3,500.

ETH has risen 43% in the past 30 days, trading at $4,283 according to Nansen, about 12.7% below its November 2021 all-time high of $4,828. CoinGlass data suggests around $2.23 billion in positions could be liquidated if the price approaches $4,700. The caution may stem from earlier in the year, when Ether dropped below $2,000 in March and multiple rally attempts failed before the recent surge.

On Saturday, BitMEX co-founder Arthur Hayes said he had bought back into Ethereum just a week after selling $10.5 million worth when it was at $3,507. Since Sunday, ETH has crossed $4,300 several times but pulled back shortly after.

This movement comes as institutional interest in Ether grows, though analysts remain divided on whether prices will continue to climb. Santiment analyst Brian Quinlivan noted that public announcements of large institutional purchases can sometimes trigger FOMO, briefly stalling or even pushing prices down.

Cointelegraph reported Monday that companies with crypto treasuries now collectively hold 3.04 million ETH, valued at roughly $13 billion.

Sources:

https://app.santiment.net/insights/read/this-week-in-crypto-full-written-summary-w2-august-8845?utm_source=weekly&utm_medium=email&utm_campaign=year2025week32

https://app.nansen.ai/token-god-mode?tokenAddress=0xeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeee&chain=ethereum&tab=transactions

https://cointelegraph.com/news/ether-profit-taking-short-term-holders-selling-crypto-data

https://x.com/glassnode/status/1954837696385360063

https://www.coinglass.com/