Increase in Short Positions Drives Bitcoin and Ethereum's Short-Term Dip CryptoQuant analyst Julio Moreno attributes the recent decline in Bitcoin and Ethereum to a surge in short positions in the futures market. As prices fell, the open interest in futures contracts saw a significant increase. This indicates traders' bearish sentiment, betting on further price drops. The increase in short positions puts pressure on the market, potentially leading to a self-fulfilling prophecy as it encourages more selling.