The recent run -up, which is the highest level ever, has successfully triggered optimistic driving force that threatens $ 5,000. But this is not true because the seller was able to dominate once again and could drop the price. Most of this weakness seems to be driven by large hedge funds, and continues to bet on the second largest cryptocurrency with record value market cap.
Ether Leeum shorts reach the record level
The price of Etherrium was over $ 4,000, and shorts were piled up, and many expect rally to fall from steam. In most cases, these short figures are led by large hedge funds, lowering the price of Etherrium. It's not the first time that hedge funds have tried to continue to suppress ETH prices to minimize losses at the end.
According to the data according to the order of the CME ETHER Futures Dashboard on the block website, this short number has actually rose to an invisible level before. Hedge funds alone doubled their short positions in August.
As you can see on the website, the total hedge fund -oriented Etherum shorts amounted to $ 2.3 billion on August 5. But this figure grew rapidly to $ 4.19 billion at this report. This suggests that hedge funds are still expected to be classified here.
ETH different location
Unlike hedge funds, the asset manager was somewhat optimistic in Ether Lee. According to this data, more than $ 1.22 billion at the time of the report shows that the more than $ 1.22 billion is increasing. This is prominent, but it still shows that more paragraphs are progressing without falling short of the weak position.
Un reported positions are maintained positively at $ 7.5 million. On the other hand, there are other positions that include sleeves and favorite people, which are negative at $ 375 million, adding more fuel to the paragraph.
In the case of hedge funds, the higher the price of Etherrium, the more money you lose and the more the price increases. But from a short position at a short position, historical achievements suggest that these short pressure may increase and prices can rise.
DALL.E's main image, TradingView.com chart
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