Analyst Says Ethereum Set For A “Huge Short-Squeeze” – Here’s Why
Ethereum Funding Rates sit at a 14-month low. CryptoQuant analyst Maartun in a Quicktake on Sunday, reveals that Ethereums Funding Rates are at a 14-month low, noting that the last time it was this low, there was a huge short-squeeze in the markets. … Funding Rates are at a 14-month low. The last time Funding Rates were this negative was in July 21 just before a huge short-squeeze on Bitcoin & Ethereum, the analyst writes. Maartun explained that the low funding rates result from short-traders paying long-traders. But, according to Maartun, it could also be the result of traders hedging their spot positions as The Merge approaches. As Ang Crypto Basic reported last Thursday, Santiment Feed nagsiwalat that short sellers appear to circulate on exchanges as The Merge approaches. These sellers could get caught in the short-squeeze if history repeats itself. Meanwhile, in a tweet today, market analyst Ali Martinez noted that Ethereum would likely move lower to the $1,335 price point. According to Martinez, the asset is already trading below two significant supply zones. The first at $1,560, where 526K addresses bought 3.44 million ETH, and the second at $1,475, where 585K addresses bought 2.81 million ETH. #Ethereum nakikipagkalakalan sa ibaba ng dalawang makabuluhang supply zone.