When ETH rises, shorts flock in, why is that? As the price of ETH continues to climb, do you also wonder: is this a continuation of a carnival, or the calm before the storm?

Leverage ETH short positions have reached an all-time high, which means more and more traders are bearish on Ethereum. The sharp increase in speculative activity has quietly changed the investment sentiment in the options market. Protective put options account for more than 34% of the total trading volume, while call put options only account for 26%, revealing the market's caution and pessimism.

Technical indicators also show that Ethereum is facing a tough battle. The resistance level around $3600 is like an insurmountable mountain, while the RSI suggests that bullish momentum is gradually weakening. More concerning is the waning interest from institutions in Ethereum, as there have been multiple large-scale net withdrawals from Ethereum ETFs.

However, even in such a pessimistic atmosphere, there are still those who remain optimistic about ETH's future. They believe that although the market is currently dominated by bearish trends, there is still a strong possibility of a reversal. The price of ETH could even reach between $5000 and $10000 in the future, but these predictions depend on significant changes in market conditions.

So, in the face of such a market, do you choose to hold on or get off? Most retail investors do not have Bitcoin, but they basically all have Ethereum. Everyone wants higher excess returns, so they choose Ethereum, which seems to have more room. However, this also makes the Ethereum ride heavier and the situation more complex.

Now, ETH seems to have a momentum to wash out all the small retail investors and medium to long-term holders. This is mainly because ETH is too heavy, too many people are optimistic, and with no major negative news, the only way to eliminate most people is through a long washout process. But please remember, if you switch positions at this time, you may very well fall before dawn.

So, whether you choose to hold on or get off, it is essential to remain calm and rational. The market is always full of variables and unknowns, but as long as we stay cautious and optimistic, we will surely find our opportunities in this storm.

Don't forget, the world of cryptocurrency is always full of surprises and reversals. Perhaps at the moment you hesitate, the opportunity has quietly slipped away. So, let's pay attention to market dynamics and seize every possible opportunity together!

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The above content is for information sharing only and does not constitute any investment advice! Investing involves risks; enter the market with caution!

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