Analyst Joao Wedson issued a warning about shorting a key player in the cryptocurrency market
As concerns grow about selling pressure on Ethereum (ETH) in the cryptocurrency market, analyst Joao Wedson noted a significant shift in the positions of large investors and suggested a new wave of liquidations could be on the horizon
According to data shared by Wedson, Ethereum’s 30-day and 180-day open interest delta (OED) are both in negative territory. The Whale vs. Small Investor delta indicator, which shows the difference in positions between whales and individual investors, is similarly trending negative
The analyst said that this data indicates that large market participants have significantly reduced their long positions and shifted more towards short positions over time
However, the total open interest in the Ethereum futures market remains high, at approximately 10.58 million ETH. According to Wedson, the significant amount of leveraged positions still present in the market leaves Ethereum vulnerable to a new wave of forced liquidations
According to Wedson, the fact that the total amount of open positions remains high despite position changes by large investors raises concerns that liquidations could trigger each other in the event of sharp price movements
TwitterWhatsAppLinkedinTelegram Similar Posts BREAKING NEWS: New Details Emerge in Chinese Government Announcement That Sent Away the Price of an Altcoin! A List of the 15 Altcoins Most Searched for in Recent Hours Has Been Published China Announces National Blockchain Network: This Altcoin’s Price Surges Label Name Mail
