CandleFocus Wall Street Giants Have Lost Hope on This Altcoin! Short Positions Broke a Record!
2025-02-10
Author: Content Editor
The recent change in customs duty rates by US President Donald Trump has caused a significant decline in cryptocurrencies, with Ethereum experiencing a 37% drop in just three days. Short positions in Ethereum have reached an all-time high, increasing by 500% since last November. Analysts attribute this increase to concerns about Ethereum's near-term stability and strong selling pressure. Hedge funds are aggressively opening short positions, betting on Ethereum's price to fall further. However, some analysts believe that if Ethereum can hold the critical support level of $2,600, it could experience a significant recovery and potentially reach $3,000 or even $4,000. Excessive shorting could also lead to a major short squeeze, pushing prices higher. Overall, market analysts caution that Ethereum could face challenges unless there is a positive development.
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