Ethereum’s recent rally has prompted a wave of profit-taking among short-term holders, as the cryptocurrency continues to hover around the $4,300 mark.
On-chain analytics firm Glassnode reported that traders holding Ether for less than 155 days have been cashing out at a faster pace than long-term investors.
The firm’s data shows that the seven-day simple moving average of realized profits is approximately $553 million per day, with the majority of those gains coming from short-term holders.
“Short-term investors are realizing far more gains, driving the current wave,” Glassnode noted in a post on X.
Long-Term Holders Remain Steady
While short-term traders appear eager to lock in profits, Glassnode found that long-term holders are taking gains at levels comparable to December 2024.
This suggests that seasoned investors are not rushing to exit their positions, despite the recent surge.
Profit realization across the market remains roughly 39% lower than the peak levels recorded last month, when Ether traded near $3,500.
Price Performance and Market Sentiment
Ether has gained 43% over the past month, currently trading around $4,283 according to Nansen.
However, it still sits about 12.7% below its all-time high of $4,828, reached in November 2021.
Some traders remain cautious about a near-term push toward those highs.
Data from CoinGlass indicates that approximately $2.23 billion in positions could face liquidation if the price approaches $4,700.
The hesitancy stems in part from earlier struggles this year, when Ether dipped below $2,000 in March and several rally attempts faltered before the latest climb.
High-Profile Moves and Key Levels
On Saturday, BitMEX co-founder Arthur Hayes revealed he had bought back into Ether, just a week after selling $10.5 million worth when the token traded at $3,507.
Since Sunday, Ether has crossed above $4,300 multiple times, only to fall back below.
This level has become a focal point for traders watching for signs of a sustained breakout.
Institutional Interest and FOMO Risks
Institutional activity in Ethereum has been growing, with companies holding a combined 3.04 million ETH in their treasuries — worth about $13 billion.
Still, some analysts warn that public announcements of large institutional purchases can spark short-term volatility.
Santiment analyst Brian Quinlivan said that such news “can trigger FOMO that may briefly stall or even push Ether’s price down.”
The coming weeks will reveal whether Ethereum can maintain momentum or if profit-taking pressure will drive a pullback.
