The Ethereum price and its short-term holders are currently exhibiting bearish activity simultaneously. As the downward price trend continued, short-term ETH holder activity followed closely, with the group simply moving to a mode of sale.
Negative supply flow for Ethereum holders in the short term
As Ethereum price loses upward momentum, on-chain data is now sending out a warning signal, which requires careful attention in volatile market conditions. This cautious signal comes from short-term investors. ETH Holderswhich collectively exhibit bearish activity.
On-Chain Mind, a crypto and data analyst, has confirmed that Ethereum moves into negative territory on short-term holder supply flow. A trend like this suggests that more recent buyers of ETH are choosing to sell their holdings, adding new supply to the broader market during times of uncertainty.
The analysis carried out using the Ethereum The short-term holder’s net change measure primarily tracks speculative positioning over a 30-day period. When short-term security holders begin to distribute their securities frequently, this trend often suggests a decline in confidence and an increase in sensitivity to volatility.
Data from the STH Net Change chart reveals that recent buyers are beginning to distribute their holdings and that short-term capital is rotating instead of flowing. In such scenarios, On-Chain Mind advocates a strategy that plays against the crowd in the short term.
As short-term holders display fear and uncertainty by selling their ETH stash, large holders or whales keep finding a reason to hold the altcoin and even buy more of it. CW on the X platform declared that Ethereum fell below the realized price of accumulation wallet addresses.
Despite the loss this key thresholdETH whales continued their buying activity. The expert pointed out that the large-scale accumulation of the altcoin by whales began in June 2025. In the meantime, the current price has now fallen below the price at which these investors started their accumulation process.
This drop has not stopped them because their buying frenzy is taking place even more aggressively this time. At the same time, the latest ETH price will likely look attractive to whales.
Buying ETH now is an opportunity
Even in a bearish state, Michael Van De Poppe expressed an optimistic focus on Ethereum. Following an analysis of ETH Market Value to Realized Value Ratio (MVRV)the market expert and founder and CIO of MN Fund, declared that “it’s a great opportunity to look at ETH now.”
Van De Poppe explained that the main reason for this is the considerable gap between the fair price and the market price. Based on the MVRV ratio, ETH’s current valuation is just as undervalued as it was during extremely volatile periods, like the April 2025 crash, the bottom of June 2022 after the Luna crash, the COVID-triggered March 2020 crash, and the December 2018 bear market peak.
In all these cases, this presented a fantastic opportunity to buy the leading altcoin, and this particular signal has manifested itself again in the current market cycle.
Featured image from Pixabay, chart from Tradingview.com
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