#ETH Shorts surge on Bitfinex, looking like big players are turning bearish.
But piling into short positions can itself be a contrarian signal.
If these shorts were lured in by high funding rates, once the price rebounds, short covering could push the market higher.
Just because more people are bearish doesn’t mean the direction must be downward.
But piling into short positions can itself be a contrarian signal.
If these shorts were lured in by high funding rates, once the price rebounds, short covering could push the market higher.
Just because more people are bearish doesn’t mean the direction must be downward.
