As of 2025, the cryptocurrency market is witnessing a fascinating, albeit tumultuous, phase with Ether (ETH) approaching its all-time high of $4,878. Despite this upward trend, a significant portion of retail traders remains skeptical, according to the crypto sentiment-tracking platform Santiment. The prevailing sentiment on social media indicates that many retail investors are experiencing fear, uncertainty, and doubt (FUD), leading them to sell their Ether holdings to larger entities, commonly referred to as “whales.”
In a recent post on the platform X, Santiment noted that bearish commentary surrounding Ether has outpaced bullish sentiments. “Traders have shown FUD and disbelief as the asset makes higher and higher prices,” the platform stated. This trend is notable because historically, prices in the cryptocurrency market often move contrary to the expectations of retail traders. When a majority exhibit excessive bullishness, it can signal market greed, which typically precedes sharp sell-offs.
For instance, Santiment highlighted instances of extreme greed observed on June 16, 2025, and July 30, 2025, which resulted in subsequent price corrections. These corrections followed a significant decline earlier in the year, during which Ether experienced a dramatic plunge of 60% from its January peak, dropping below the $2,000 mark, as reported by CoinMarketCap.
Amid these fluctuations, Santiment emphasized that smaller retail traders are increasingly fearful during the current rally, prompting them to liquidate their Ether holdings. “With key stakeholders accumulating loose coins that small ETH traders are willing to part with right now, prices are showing very little sentiment resistance from breaking through and making history in the near future,” the platform remarked.
Moreover, onchain analysis platform Glassnode reported that short-term Ether holders are selling their assets at a higher rate than long-term holders. This behavior suggests that short-term traders may be anticipating a price pullback. Currently, Ether is trading at approximately $4,622, just 5.53% shy of its all-time high, reflecting a 7.95% increase over the past 24 hours.
While some traders speculate that Ether may have reached its peak, others remain optimistic about its potential for further growth. Crypto trader Ted stated that Ether is “about to break out of its 4-year sideways range, and people are calling for top.” In contrast, another trader, Inmortal, expressed even more bullish sentiments, predicting that Ether is “escaping the force of gravity, be ready for $10,000.”
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