Ethereum Short Interest Explodes on Bitfinex as Whales Add $864 Million

Ethereum short interest has surged 13,000% on Bitfinex over two weeks, increasing from approximately 771 ETH to more than 101,000 ETH. This extreme buildup in bearish positioning sets the stage for a potential short squeeze.

Meanwhile, whale wallets have accumulated more than 320,000 ETH worth around $864 million, with transactions exceeding $1 million rising from 1,202 to 7,113 in just seven days.

Ethereum traded at $2,652 on Monday, holding above a dense cluster of technical support despite slipping below the psychologically important $2,700 level. The asset remains underpinned by its 50-day, 100-day, and 200-day exponential moving averages, which sit between $2,260 and $2,430.

Analysts note that the uptrend remains intact as long as Ethereum continues trading above its moving average structure.