Furthermore, whales find the position much more alluring because this is less than the original accumulation price of $2,500. Even with the drop in price, the accumulation of ETH still lingers. In the past, persistent ETH migration into accumulation wallets during turbulent times has frequently indicated a change in positioning from speculative to long-term.
Hedge Funds Turn Bearish On ETH And BTCLast week, these investors held more short positions, but this week has seen further declines. While the data is one week apart, this week’s data will be entering the market next week. As a result, the shifts in their holdings in the data that will be published to the public the following week are crucial. Rising short interest more immediately indicates a defensive posture from institutional participants, and it can also occasionally precede strong squeezes if sentiment changes.
