The current trading situation of ETH in the market
π ETH Leverage Positions (CME):
The CME chart shows a sharp increase in short positions on ETH futures contracts, currently reaching -5296 π, a record high. This reflects a market sentiment strongly tilted toward a bearish outlook for Ethereum in the short term β¬.
Leverage funds are now showing caution and betting on the possibility of a price decline for ETH π.
π Net Taker ETH on Exchanges (CryptoQuant):
Data from CryptoQuant indicates significant fluctuations in the Net Taker Volume of ETH π. Red points π΄ represent large short positions from Binance and BitMEX, concentrated during periods of high volatility in ETH β οΈ.
ETH's price is currently approaching $4,000 π°, but the heavy short positions are creating substantial risk for a potential correction β οΈ.
π Overall Conclusion:
The ETH market is being dominated by bearish sentiment from large funds and leveraged traders. The record-high increase in short positions while ETH approaches its peak price level calls for caution from retail investors β οΈ.
Investors should closely monitor upcoming market movements to make informed decisions π§. If the shorts are liquidated en masse, the market could experience a short squeeze, driving the price sharply higher π.
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