🔥🔥🔥 Ethereum (ETH) traders are positioning for a potential downturn,👀 amassing short positions as Grayscale withdraws its Ethereum futures ETF application.
👉With ETH hovering near a critical support level at $3,010, traders anticipate a bearish trajectory, evident from $345 million in short positions poised for liquidation if the price surges by 3%.
👉 Meanwhile, a 3% decline would only wipe out $237 million in long positions. 🧠
👉Amidst concerns surrounding Ethereum's regulatory status and the uncertainty surrounding spot Ethereum ETFs, the crypto community awaits anxiously for the impending decision on the spot Ethereum ETF next month.
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