Ethereum (ETH) looks at low unrealized low profits during the latest rally, and could help avoid sales pressure. ETH switched to accumulation, surpassing BTC in short-term demand in July.
Ethereum has recovered to a level not seen since March 2024, moving towards the $4,000 level. However, the tokens are not overwhelmed by this unrealized profit.
According to GlassNode data, ETH has much lower relative unrealized benefits. Over the past year, Ethereum whales have been busy trading, which has led to lower average prices. However, at the latest gathering, some of the purchases were made at a higher market price to ensure that they have a rushed to have available tokens.
Despite trading $ETH near the highs in March 2024, unrealized profits are much lower. At the time, #ETH hit +2σ (standard deviation) at 3.98K with relative unrealized profits. Today it is approaching +1σ. Movement to +2σ means ~4.9k$ETH. pic.twitter.com/tdmcizp3pm
– GlassNode (@GlassNode) July 31, 2025
A relatively low metric of unrealized profits could mean that recent buyers could potentially show more ETH rally. During previous ETH Local Peaks, whales were often sold and pushed prices down. Elderly people in the ICO era, or the Ethereum Foundation, were frequent sellers near the peak of the market.
Eth was resilient and defied the recent market, where most Altcoins had taken a step back. ETH continued its climb on Thursday, rising to $3,832.37. The recent ratio between unrealized profits and current prices suggests that ETH could recover to an all-time high by attempting a hike of nearly $5,000.
ETH may also repeat the trend of reaching a six-month peak of 0.032 BTC, which is deemed destined to slide constantly at BTC pricing. ETH’s control expanded to 11.7%, but traders were waiting for the spread of the wider Altcoin market.
Spot demand will grow ETH
For passive income, demand for ETH increases based on willingness to use token wrap or staked forms. Ethereum’s staking validator queue has received fewer requests after recent spikes. Buyers are trying to tap on multiple ETH sources, such as old stake coins or unpacked ETH.
The main driver of spot buying is still ETFs and continues to gain an aggressive accumulation. Both ETH and BTC are seeing an influx of whale buyers like cryptopolitan It has been reported Previously.
ETH accelerated the net Slow From exchanges, it shows strengthening demand from individual whales and corporate buyers. After the latest purchases from Bitmine, the strategic ETH reserve totaled over $100 billion. Sharplink Games. In total, buyers get 413k ETH from the market weekly, but only about 15k is built and held in the supply.
ETH demand could come from the final addition of staking and physical settlements of ETFs and other vehicles. Ethereum reserve requirements could further increase spot demand. Additionally, over 35% of ETH is locked, representing 28.3% of supply.
ETH is waiting for a short aperture of $3,900
Another major driver of the ETH Rally is the accumulation of open interest and short positions at the peak. Liquidity is currently accumulating at around $3,900, suggesting that shorter throttles could boost ETH prices.
ETH can shift between $3,900 and $3,600 depending on which side of the liquidity accumulation is attacked first. |Source: Coinank
In the last 12 hours, ETH has moved to a short liquidation, attacking $20 million to the $3,800 price range. On a 24-hour basis, ETH saw over $93 million in long liquidation. Currently, ETH could move towards $3,600 based on long outstanding liquidity.
Ethereum’s open interest rate has exceeded $26 billion from its recent peak of $28 billion. ETH saw a major liquidation, but quickly returned to speculative trading as assets awaited new gatherings.