bitfinex $ETH shorts just hit their highest level in over 4 years.
the exchange's margin data showed short positions reaching around 73,056 ETH on september 24, after increasing by more than 53,800 ETH in a single week.
that's a sharp shift in positioning, especially with ETH trading near $2,670 after recovering strongly from its mid-year lows.
but high short exposure doesn't automatically mean traders are right about a drop.
some positions may be hedges, while a further SETH rally could put pressure on short sellers and trigger forced buying.
the key is whether price confirms the bearish positioning or moves against it.#EthereumSurpasses2500USDT
the exchange's margin data showed short positions reaching around 73,056 ETH on september 24, after increasing by more than 53,800 ETH in a single week.
that's a sharp shift in positioning, especially with ETH trading near $2,670 after recovering strongly from its mid-year lows.
but high short exposure doesn't automatically mean traders are right about a drop.
some positions may be hedges, while a further SETH rally could put pressure on short sellers and trigger forced buying.
the key is whether price confirms the bearish positioning or moves against it.#EthereumSurpasses2500USDT