Prior record high: 202854.7531
Current level: 208123.1093
As the market is manipulated by whales, the price of ETH might Rise from here
All of these ETH will have to repurchased at one stage or another in order to close there positions.
Looking at the Bitfinex orderbook, if you purchase 70,000 ETH you will eat up the order book to $1000
And that's with only 1/3 of the shorts closed. That can't be correct surely.
Whales could be hedging, buying spot and then shorting on BitFinex etc Orderbooks aren't reliable etc
But you still get a general idea!