I have said it before, market makers must bring it down, because the losses from option settlements are real losses, not unrealized losses. On the 22nd, it still needs to be brought down, it must break 4000.

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.