ETH may experience a short-lived pullback courtesy of short liquidations and appetite for leverage grows, forming short squeeze scenario
was on the third day of a bearish retracement after encountering resistance above $2700. However, there is speculation that the pullback might be short-lived.suggested that the ETH short positions have surged above the $2,700 price level.
Ethereum’s Open Interest has been rising since the 6th of September. This indicated a renewed interest in the derivatives segment.Source CryptoQuant On the other hand, large holder outflows grew from 122,380 ETH on the 20th of 0ct0ber to 267,180 ETH on the 22nd of October.
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