Bitcoin (BTC) and Ethereum (ETH) Short Interest Hit All-Time Highs


While the cryptocurrency market has stopped falling and is currently trading relatively flat, many investors see more pain to come as the short interest for both Bitcoin (BTC) and Ethereum (ETH) have recently reached all-time highs.

After being turned away at the $7,400 mark, Bitcoin fell rapidly and is currently trading just shy of $6,500 as volume has dropped off over the last 24 hours. The current short interest stands at 38,562 BTC, which notably includes a 10,000 BTC short that was made this past Sunday, roughly equalling $74 million at the time.

BTC/USD Shorts via TradingView

The price of Ethereum has recently hit a 12-month low after the major market sell-off this past week and is now trading at $217.

Despite being down nearly 85% from January highs, the short interest on ETH is currently at an all-time high, indicating that investors are betting that there are more losses to come. Currently, there is more than 205,162 ETH being traded short, which equates to roughly $44 million dollars.

ETH/USD Shorts via TradingView

Whenever short interest is at an all-time high, there is always the possibility for a significant short squeeze to push prices higher. However, the current macro environment is definitely not ideal for long positions as Bitcoin trends lower towards $5,000 and Ethereum suffers from falling investor ICO interest.

BTC and ETH are currently ranked 1st and 2nd, respectively, in the AltDex 100 Index (ALT100), a benchmark index for large-cap cryptocurrencies and tokens.

More: ETH/USD Short Data and BTC/USD Short Data

Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.

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