Ethereum Short Positions Crash as Whales Keep Buying

Ethereum short positions on Bitfinex plummeted from around 101,000 to below 10,000 in just 11 hours overnight, even as the ETH price barely moved.

This sudden drop in shorts has sparked debate among experts about what it means for Ethereum's future. Some see this as a warning sign, but others disagree and point out that historically, whales have added shorts during rallies, not sold into weakness.

In the meantime, big money is quietly accumulating ETH, with large wallets adding over 320,000 ETH worth around $864 million in just one week.