Ethereum'$BTC s Latest Price Rally Fuelled by Short Covering, Claims CF Benchmarks CEO's

As reported by Odaily, CF Benchmarks CEO Sui Chung has explained the recent price increase of Ethereum$ETH as mainly due to short covering instead of fresh bullish investment. He pointed out that the CME Ethereum futures premium is still low, and no substantial capital inflow has been seen in U.S.-listed spot Ethereum$BNB ETFs. This indicates that the recent price rise is mainly caused by traders closing short positions instead of active positioning by institutional investors.