Key Takeaways
Is Ethereum about to trigger a short squeeze?
Over $10 billion in ETH shorts are at risk if price moves toward $4,359.
Are traders ignoring bullish signs?
Despite negative sentiment, whales are buying, and bearish momentum is fading.
Ethereum [ETH] might be on the edge of something big, and short sellers are sweating.
Over $10 billion worth of ETH shorts are now hanging by a thread. If price breaks toward the $4,359 mark, it could spark a liquidation cascade that sends ETH flying.
The recent downtrend looks like it’s losing steam, and bullish momentum is rising.
Where do we go from here?
Fear in the air, but ETH is unfazed
Despite the gloom in the market, Ethereum’s starting to push higher, and that’s no coincidence.
Funding Rates stayed negative throughout last week, meaning traders were paying to stay short. That kind of bearish sentiment often shows up right before a reversal.
Source: Cryptoquant
And it’s not just the charts, whales are moving too. Just yesterday, Bitmine bought a jaw-dropping 234,846 ETH (worth $963 million), bringing their total stash to over $10.8 billion.
Source: X
When the market’s leaning bearish, and the smart money starts buying? That’s usually not the time to be asleep at the wheel.
