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ETH Selling pressure in the Ethereum market has attracted attention, and large investor positions have shifted significantly.
As the cryptocurrency market is increasingly concerned about the selling pressure facing Ethereum (ETH), analyst Joao Wedson pointed out that the structure of large investors 'positions has changed significantly and hinted that a new round of liquidations may be approaching.
According to data shared by Wedson, Ethereum's open interest spreads (OED) on the 30th and 180th days are in a negative range. At the same time, the "whale and retail investor gap" indicator, which is mainly used to reflect the direction of change in the difference in positions between large institutions (whales) and ordinary retail investors, also showed a similar negative trend.
Analysts said the data showed that large market participants had significantly reduced their long positions and gradually shifted their strategies in a short direction.
High leverage risks still exist, and chain clearing risks remain to be solved
Although large investors have adjusted their positions, the total open interest volume in the Ethereum futures market remains high, at approximately 10.58 million ETH. Wedson pointed out that the huge leveraged positions still in the market make Ethereum vulnerable to a new round of forced liquidations.
He further emphasized that in the context of large households reducing their long positions, the phenomenon of high total positions has caused market concerns: once prices fluctuate violently, interrelated clearing mechanisms may be triggered, thereby exacerbating market volatility.
