Retail prices start to run away from Ethereum, even though the price just recently increased. I looked at on-chain data from Santiment earlier, small ETH holders (0-0.01 ETH) actually sold in the last two days. They sold 1,791 ETH, crazy. Even though since March 2025 they kept accumulating until December, adding up to 6,195 ETH. But when January arrived and the momentum slowed, they immediately took profit.

Now Ethereum's price has already rebounded to $2.33K after the rise since late March 2025. This movement makes retail traders skeptical, they think it's just a bull trap. In recent days, the supply distribution from retail groups has dropped sharply. It looks like they don't believe this momentum will last.

But according to Santiment, the digital market often moves contrary to the majority opinion. If many believe this 17% pump since late March is a trap, then Ethereum's price might actually continue to rise. The question now is, will retail traders keep taking profits or will this bullish momentum prove to be strong? Let's see what happens next week.