On August 13, the crypto data analysis platform Santiment released an observation report on the Ethereum market. The report pointed out that the current price of Ethereum is only 6.4% away from the historical high of $4891 reached in November 2021, indicating that the market is brewing a new round of行情.

Interestingly, data monitoring shows that during the recent rise of Ethereum, retail investors have been continuously selling off their holdings. This behavior pattern among retail investors has often appeared in history, and market trends often run counter to retail expectations. Looking back at June 16 and July 30 of this year, extreme greed was observed in the market, which subsequently led to price corrections.

Currently, the market sentiment presents an interesting phenomenon: on one hand, retail investors exhibit clear panic and hesitation, while on the other hand, large investors are quietly absorbing these sold-off chips. This change in supply and demand dynamics has made it almost effortless for Ethereum's price to rise.

From a historical perspective, when retail investors continue to be bearish while large holders continue to accumulate, it often indicates that prices are about to break through key resistance levels. Santiment analysts believe that, based on the current market supply and demand structure, Ethereum is likely to break through its historical high in the short term. However, they also remind investors that the cryptocurrency market is highly volatile, and any investment decision requires careful risk assessment.$ETH