律动BlockBeats
--
Analysis: The main force behind this round of Ethereum shorting is suspected to be hedge funds
According to BlockBeats, on August 20, Ethereum recently surged to nearly $5,000, triggering a wave of bullish momentum. However, this threshold was not breached, as sellers regained dominance and pushed the price back down. A significant portion of the downward pressure seems to come from major hedge funds, which continue to short this second-largest cryptocurrency at record levels.
When the price of Ethereum surged above $4,000, short positions also increased, with many expecting upward momentum to weaken. A large number of short positions are dominated by major hedge funds, thereby intensifying the downward pressure on Ethereum. This is not the first time, as hedge funds have consistently tried to suppress ETH prices to minimize their own losses.
When the price of Ethereum surged above $4,000, short positions also increased, with many expecting upward momentum to weaken. A large number of short positions are dominated by major hedge funds, thereby intensifying the downward pressure on Ethereum. This is not the first time, as hedge funds have consistently tried to suppress ETH prices to minimize their own losses.
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
ETH
4,227.63
-0.69%
