Ethereum Faces Record Short Positions Amidst Underperformance
- Ethereum short positions have surged by 500% since November, reaching new highs.
- CME futures contracts for Ethereum hit a peak of 11,341.
- Bearish bets on Ethereum increased over 40% in one week.
- Bitcoin’s market cap is now six times larger than Ethereum’s.
- Ethereum is trading around $2,500, down approximately 45% from its November 2021 high.
The increase in Ethereum short positions by hedge funds has reached a record level, with CME futures contracts peaking at 11,341. This comes as Bitcoin outperforms Ethereum significantly, with Bitcoin’s market cap now six times that of Ethereum’s. Despite temporary boosts from supportive statements, Ethereum remains under pressure in the crypto market.
Source (2.6)https://cryptobriefing.com/ethereum-price-pressure-short-positions/?rand=59535
