Ethereum News Today: Ethereum Approaches ATH as Retail Bearishness and Open Interest Surge

Ethereum's retail sentiment remains bearish on major social media platforms, according to recent analysis by Santiment. The analytics firm highlighted that the Positive/Negative Sentiment metric for Ethereum has remained at muted levels, suggesting retail traders are not overly bullish despite the asset’s recent price recovery [1]. This sentiment, which has shown a sharp drop during Ethereum’s breakout earlier in the month, could be a precursor to further price gains as historical patterns indicate that prices tend to move in the opposite direction of retail expectations [1].

Santiment’s analysis further explains that key stakeholders are currently accumulating ETH from smaller retail traders, a trend that could facilitate a potential all-time high (ATH) breakout with minimal resistance from retail sentiment [1]. The firm points to past examples where excessive fear of missing out (FOMO) led to price corrections, while periods of widespread fear, uncertainty, and doubt (FUD) resulted in price increases.

Simultaneously, Ethereum’s futures open interest has surged, reaching a new record above $35.5 billion, as reported by Glassnode. This metric measures the total amount of open futures positions on centralized derivatives exchanges and is often viewed as a proxy for market conviction [1]. The increase in open interest, coupled with Ethereum’s recent price movement, suggests growing institutional and speculative interest in the asset.

Ethereum’s price has risen over 7% in the past 24 hours, reaching $4,730 and approaching its ATH. The asset is currently within striking distance of $5,000, a level that would represent a new milestone in its price history [1]. Technical indicators, including rising trading volume and open interest, further support the possibility of a continued upward trend.

Despite the positive technical and sentiment indicators, analysts caution that the market remains volatile. Retail bearishness, while potentially favorable for a breakout, should not be seen as a guarantee of sustained price momentum. Investors are advised to monitor key resistance levels and volume patterns for confirmation of a bullish continuation [1].

In the broader market, Ethereum’s performance has contributed to a rise in the NFT sector’s market capitalization, which has reached $9.4 billion as of mid-August 2025. However, this growth is primarily driven by Ethereum’s overall price appreciation rather than a surge in NFT trading activity [1].

As Ethereum approaches a potential all-time high, market participants will be watching for signs of sustained strength, including continued institutional buying and positive on-chain activity. Retail traders may shift their sentiment if the price breaks above critical resistance levels and maintains upward momentum in the coming weeks [1].

Source:

[1] NewsBTC (https://www.newsbtc.com/ethereum-news/ethereum-retail-mood-red-perfect-ath-break/)

[3] FastBull (https://m.fastbull.com/news-detail/institutions-are-still-loading-up-on-bitcoin-heres-4339520_0)

[6] CryptoPotato (https://www.cryptopotato.com/wif-eyes-breakout-from-bullish-wedge-after-17-daily-surge/)

[7] CoinEdition (https://www.coinedition.com/ethereum-rally-pushes-nft-market-cap-to-9-4-billion/)