tldr; Ethereum is experiencing a surge in short positions, reaching record highs with a 500% increase since November 2024. Despite a rebound in other major cryptocurrencies, Ethereum remains under pressure, with CME futures contracts peaking at 11,341. The Kobeissi Letter highlights a correlation between large short positions and price crashes, noting a significant decline in Ethereum's price following past events. Currently, Ethereum trades around $2,500, significantly below its record high, while Bitcoin has outperformed it significantly in 2024.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
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