Share this article
Ether Shorts Hit Another Record High as Price Sinks
Ethereum traders continue to load up on short positions, having pushed the cryptocurrency lower by more than 30 percent in the last seven days.
Updated Sep 13, 2021, 8:22 a.m. Published Sep 12, 2018, 4:17 p.m.
There seems to be no end in sight for the sell-off in ether markets, as the number of short orders placed on the second-largest cryptocurrency by market capitalization hit a fresh record high on Wednesday.
The ETH/USD shorts on Bitfinex exchange clocked a new high of 248,247, beating the previous record high of 247,611 set last Friday. Looking at the data from a different angle, these bearish bets have risen by more than 200 percent in the past four weeks.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
ETH/USD shorts
The extreme negative positioning – as seen in the chart above – usually results in a sharp move on the opposite side, popularly known as "short squeeze". Further, the stage looks set for profit taking (unwinding of shorts) as the cryptocurrency is looking extremely oversold as per the relative strength index (RSI).
However, the ether market is showing no signs of bearish exhaustion. This is evident from the fact that ETH found acceptance below $200 after shorts rose to lifetime highs on Friday. Further, prices hit a 13-month low of $167 today in accordance with the rise in the bearish bets to new highs.
So, it seems safe to say that the bearish sentiment is quite strong and the unwinding of shorts will likely gather pace only if bitcoin, the world's largest cryptocurrency by market capitalization, picks up a bid as anticipated by technical charts.
However, if BTC dips below $6,000, then the ETH bears could continue to boost short positions to fresh record highs, accentuating the rout.
At press time, ETH is trading above $171 on Bifinex.
Disclosure: The author holds no cryptocurrency assets at the time of writing.
Ethereum image via Shutterstock; Charts by Trading View
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Bitcoin, Ether Steady as AI Fears Send Oracle Tumbling Down, Traders Next Wave of Rate Cuts
Traders appeared more focused on preserving trend structure than chasing upside, with flows concentrated in large-cap assets.
알아야 할 것:
- U.S. stocks declined as Oracle's significant drop raised concerns about AI spending outpacing returns.
- Bitcoin and Ether showed stability, with Bitcoin trading above $92,000 and Ether climbing toward $3,260.
- Oracle's increased capital expenditures on AI infrastructure led to its biggest stock drop since January, impacting tech sentiment.
Top Stories
