People in the crypto world have become addicted to shorting Ethereum, thinking it's like a few months ago, where they could short while having a meal, smoking a cigarette, or even taking a dump, just randomly shorting and making money. It's so addictive; when it goes up, they want to short again, but now they find themselves unable to short, and it's been consolidating for a month. So they increase their short positions, stubbornly holding on, trying to beat the market.

After a long period of consolidation, if it can't go down, the next step is likely a wave that takes it away.