Ethereum is holding near $1,800, but a clear split is forming between institutional and retail investors. While big money is flowing back into Ether ETFs, smaller traders appear to be getting nervous and selling into the recent rally. At press time, ETH had gained about 1.1% over the past day, adding to strong double-digit monthly returns. But the sentiment beneath the surface may be shifting.
Institutional buying returns to Ethereum ETFs
One of the more encouraging signs for Ethereum this week came from institutional flows. According to SoSoValue, spot U.S. Ethereum ETFs saw weekly net inflows of $84.4 million, marking the first positive week in nine. The turnaround is notable because institutional investors have been mostly selling since the funds launched. Only one day this past week, July 9, saw net sales of $52.08 million when ETH dipped to $1,748.
This kind of reversal often suggests that larger players are recalibrating their outlook. It could mean fresh demand is coming, which sometimes supports price recovery, at least in the near term.
Retail traders head the other way
On the other side, retail investors appear to be betting against Ethereum. Over the last 24 hours, selling volume in the perpetual futures market has risen. The Long/Short Ratio has dropped to 0.946, which signals more sellers than buyers. When this ratio falls below 1, it generally points to growing bearish pressure.
The concern is especially high on major exchanges like OKX and Bybit. Data from CoinGlass shows that whales on those platforms carry an extremely bearish tag. OKX alone controls about $4.10 billion in perpetual trading volume, while Bybit handles $1.19 billion. A bearish stance from these high-liquidity players adds more weight on ETH and could drag the price lower.
Short sellers take big positions
At least one trader appears to be acting on that sentiment. A short position worth $12.43 million was opened against Ethereum, betting on further losses. Short sellers have taken some damage though. Total liquidations show short traders lost $11.49 million over the period, while longs lost $8.30 million. The market still leans more bearish than bullish.
It is worth noting that while retail and high-leverage traders are positioning for a decline, they could be the ones who get squeezed if institutional buying continues. The balance between these two forces will likely determine where ETH goes next in the short term.
