Bitfinex ETH shorts hit 51-month high of 73,056 ETH
- —Bitfinex ETH shorts reach 73,056 ETH, a 51-month high
- —Weekly short positions rose over 53,800 ETH, up about 280%
- —Aggregate short exposure is worth nearly $195 million
- —ETH recovered 86% from its $1,506 low to about $2,670
Why it matters: Extreme Bitfinex shorts have historically preceded volatility spikes; a further ETH rally could trigger a squeeze on $195 million in bearish bets.
Source: Crypto Briefing