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Analysis: Hedge Funds Suspected to be the 'Main Force' Behind Shorting Ethereum in This Round
Summary: Following rumors, as the price of Ethereum failed to break through the resistance level as expected, it has once again started to decline. Analysis suggests that the bearish pressure in this round of the market seems to be mainly driven by large hedge funds, which continue to short ETH in record numbers and attempt to ...
Following rumors, as the price of Ethereum failed to break through the resistance level as expected, it has once again started to decline. Analysis suggests that the bearish pressure in this round of the market seems to be mainly driven by large hedge funds, which continue to short ETH in record numbers and attempt to push down the ETH price to cut losses. According to data from The Block's 'CME Ether Futures Net Position' dashboard, the number of Ethereum shorts has risen to unprecedented levels. For hedge funds alone, the short positions nearly doubled in August: on August 5, the total amount of Ethereum shorts driven by hedge funds was $2.3 billion, however, this number has rapidly increased to $4.19 billion recently, indicating that hedge funds continue to anticipate a decline in Ethereum price.
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Link: Analysis: Hedge Funds Suspected to be the 'Main Force' Behind Shorting Ethereum in This Round [Copy]
