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Bloomingbit Newsroom

Summary

It was reported that due to the deteriorating sentiment towards Ethereum, Ethereum short positions have reached an all-time high.
Short positions have surged over 500% since November last year, and it was analyzed that volatility could continue.
Currently, Ethereum's price is 45% lower than its all-time high, indicating that investors need to be cautious.

The sentiment towards the leading altcoin Ethereum (ETH) seems to have deteriorated. The short positions (bets on price decline) for Ethereum in the futures market have reached an all-time high.

On the 10th, the cryptocurrency-focused media outlet CryptoBriefing reported, citing the Kovesi Letter, that Ethereum short positions have surged over 500% since November last year, reaching 11,341 positions. This is an all-time high.

The Kovesi Letter analyzed, "Due to the aftermath of the trade war, Ethereum fell by 37% in just 60 hours. At that time, the asset size evaporated due to Ethereum's decline was over 1 trillion dollars."

Furthermore, the Kovesi Letter explained, "Currently, Ethereum is trading at a price level 45% lower than its all-time high in November 2021. With the recent increase in Ethereum short positions, volatility like that seen on the 3rd could continue."

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