Ethereum (ETH) has recorded its largest bearish bet in history as traders increased short positions by 500% since November 2024.
An analyst believes that the ETH price could reach $10k this season and labels this position as a “programmed milestone.”
Ethereum’s (ETH) effort to break out of the upper boundary of the $3000 and the $2400 range was severely intercepted by the broad market liquidation, forcing the asset to make a to-and-fro movement with a 24-hour support range of $2,520 and $2,673.
At press time, the asset had declined by 0.68% in the last 24 hours, trading at $2,647 with a market dominance of 10%. The daily liquidation had also increased to $44.65 million, out of which $30 million was in long liquidation, per Coinglass data. However, the 24-hour trading volume remains 19.3% up as $19.66 billion changes hands.
Current Traders’ Sentiment
Taking a critical look at the ETH’s price and the trader’s current behaviour, we found a very interesting relationshi
