Take a close look, the net total amount of CFTC CME cash settlement leverage for $ETH dropped to a historical low of -10,000 points from March 2022 to March 10, 2025.

Every time there is excessive short-term positioning, the market always comes back with a super reversal.

After the short-term peaks in August 2022 and June 2023, the price quickly rebounded, with a minimum rebound of 20%-30% or more. Now the short-term positioning has definitely reached a new low, with liquidity tightening and institutional entry, it's time for friends who are shorting to take a wave of losses 😢