Analysis: Hedge Funds Suspected to Be the Main Force Behind This Round of Ethereum Short Selling

According to Jinse Finance, as Ethereum failed to break through resistance as expected, its price has once again declined. Analysis suggests that the current bearish pressure in the market appears to be primarily driven by large hedge funds, which continue to short ETH in record numbers and are attempting to push down ETH prices to trigger stop-losses. Data from The Block’s “CME Ether Futures Net Position” dashboard shows that the number of Ethereum short positions has risen to unprecedented levels. For hedge funds alone, short positions nearly doubled in August: on August 5, hedge fund-driven Ethereum shorts totaled $2.3 billion, but this figure has recently surged to $4.19 billion, indicating that hedge funds continue to anticipate a decline in Ethereum’s price.