📉 $171M Ethereum Short Raises Correction Risk

* ❇️A smart trader expanded his short to 50,000 ETH (~$171.7M) with a liquidation level at $3,634 and over $10M unrealized profit, signaling expectations of further downside.

* ⭕️ETH surged from $2,400 → ~$4,000 in three weeks on heavy exchange outflows between July 9–26, with multiple $100M+ daily withdrawals reducing sell pressure.

* 🟢Momentum flipped after $150M net inflows on July 28, as major holders sent ETH back to exchanges, triggering a drop to ~$3,200.

* 📉Despite selling pressure, ETH is holding above $3K and retesting a 3-year downtrend line as potential support.

* ❇️Sentiment is split: bulls see a rebound if $3K holds, bears expect a breakdown — the large short position adds extra downside risk.

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