Retail sentiment on Stocktwits around both Bitcoin and Ethereum trend in 'bearish' territory over the past day.
According to an analyst at CryptoQuant, there is no evidence of selling among accumulating whales for Ethereum.
They said that when it comes to overall cryptocurrency market, retail participation has effectively dried up.
Ethereum (ETH) continued to trade in the red even as the rest of the cryptocurrency market recovered, with Bitcoin (BTC) largely rangebound.
Ethereum's price edged 0.7% lower in the last 24 hours to $1,950, while Bitcoin's price rose 0.8% to $67.200. Retail sentiment around the two largest cryptocurrencies by market capitalization remained in 'bearish' territory over the past day, with chatter at 'low' levels.