I just looked at some interesting data from Santiment and found it curious how small Ethereum traders have been moving in recent days. Basically, while the price was strongly recovering (it has risen about 17% since the end of March), retail traders were selling. Like, in just the last two days, the guys holding between 0 and 0.01 ETH sold nearly 1,800 ETH. Quite different from what they had been doing before.

The context is this: from April until December of last year, these small investors accumulated a lot of Ethereum, adding about 6,200 ETH to the total. But when January arrived, things changed. They started selling gradually, and now that the price has gone up again, they are taking profits more sharply. It seems retail traders are not convinced that this rally will last, you know?

The interesting side is that in crypto markets, it usually happens the opposite of what the crowd thinks. If everyone thinks it's a bull trap, maybe the momentum will continue even with these small traders selling. Anyway, Ethereum is currently trading around $2.30K, and the question remains whether these individual traders will keep exiting or if the recovery can gain strength.