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Ethereum short positions surge as the scale of shorting by hedge funds hits a record high
[Coin World] According to data from the data platform, due to the failure of the Ethereum price to break through the resistance level as scheduled, a fall has occurred again. Analysis suggests that the current bearish pressure in the market seems to be mainly driven by large hedging funds, which continue to shorting ETH in record numbers and attempt to suppress the ETH price to stop loss.
According to the "CME Ether Futures Net Position" dashboard data on a certain data platform, the number of short positions in Ethereum has risen to unprecedented levels. For hedge funds alone, the short positions nearly doubled in August: on August 5, the total short amount driven by hedge funds was $2.3 billion, but recently this figure has rapidly grown to $4.19 billion, indicating that hedge funds continue to expect a fall in the price of Ethereum.