Browsing: Shorts

After falling just short of hitting $70,000 on reports that the U.S. Treasury is doubling bond buybacks to $4 billion, bitcoin appeared to consolidate above $68,200. Despite this, the top cryptocurrency was still up more than 6%, making Aug. 19 one of its best days of the month so far.

The information provided in this article is for informational purposes only and does not constitute financial advice. Cryptocurrency investments carry a high degree of risk.

Two anonymous cryptocurrency whale wallets have opened significant short positions against Ethereum ($ETH) on the decentralized perpetual futures exchange Hyperliquid, according to blockchain tracking firm Lookonchain. The combined positions total roughly $98 million, representing a notable bearish bet on the second-largest cryptocurrency by market capitalization.

Ethereum (ETH) futures open interest climbed by roughly 350,000 ETH on May 27, even as the price slipped to $2,060. The divergence between rising open interest and falling price points to fresh short positions entering the market, rather than long liquidations driving the move lower.