BlockBeats News, August 21, BiyaPay analysts pointed out that the recent Ethereum price has failed to break through a key resistance level, leading to a renewed downward trend in the market. The bearish pressure in this round of the market is mainly driven by large hedge funds, which have continued to increase their short positions in Ethereum and are attempting to stop-loss operations by driving down ETH prices. According to The Block's 'CME Ether Futures Net Position' data, the current number of Ethereum shorts has reached unprecedented levels, reflecting strong market expectations for further declines in Ethereum prices. In particular, in August, the short positions of hedge funds in Ethereum nearly doubled, surging from $2.3 billion on August 5 to $4.19 billion. This change indicates that institutional investors continue to bet that Ethereum prices will maintain a downward trend. In the current market environment, the increase in short positions is one of the main factors putting pressure on Ethereum prices. In the face of this volatile market situation, BiyaPay's multi-asset trading wallet will continue to provide users with one-stop services for global remittances, digital currency trading, and investments in U.S. and Hong Kong stocks, helping investors remain flexible in the complex market. BiyaPay not only allows users to easily trade cryptocurrencies but also provides a convenient and efficient solution for global capital flows. Whether searching for investment opportunities in a fluctuating market or allocating assets in a changing market, BiyaPay can help users seize opportunities and ensure steady progress amid market fluctuations.

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