🔷 Is Ether being squeezed into a spring?

The number of shorts at $ETH hits historical highs. At the same time, a powerful support has formed at $4.2k.

📉 Simultaneously, we see a record outflow of coins from exchanges: the total ETH balance on CEX has fallen to a 9-year low.

This means one thing — whales are moving Ether to cold wallets and do not plan to sell. 🐳

🚀 Last week, $2.85 billion of fresh cash flowed into ETH-ETF. This is an absolute record for the entire existence of the funds and 5 times more than what BTC-ETF received during the same period. Institutions are betting on Ether.😏

🔹 What we have: the crowd is loaded into shorts, Ether is being withdrawn from exchanges, and institutions are pouring in record amounts.