Bitfinex ETH longs hit four-year high of 283,410 ETH
- —Bitfinex ETH longs total 283,410 ETH, about $709 million
- —Longs rose 157% in seven days, near the October 8 peak of 283,598 ETH
- —Shorts fell to roughly 3,530 ETH (~$8.8 million), an 80:1 ratio
- —Late-September shorts had hit a four-year high of 73,000–101,000 ETH
Why it matters: With shorts nearly exhausted, the bigger risk is a long squeeze: a drop below $2,500 could trigger forced selling by leveraged bulls.
Source: Crypto Briefing