Ethereum Short Position Worth $85M Faces Pressure as Price Approaches $2,000

An Ethereum short position worth $85 million is under pressure as ETH tests $1,900.

The trader, pension-usdt.eth, opened a short at an average price of about $1,700 and has maintained it for more than two months. Currently, the trader is down $9.8 million due to ETH's climb from $1,700 to $1,900.

However, Arkham reported that the trader can maintain this position if sufficient collateral remains available, making it a risk indicator rather than proof of liquidation.

The Ethereum ETF demand adds context to this trade, as institutional access to ETH remains active through U.S. spot ETFs, with $49.6 million in net inflows on August 7.