ETH/USD Shorts (Bitfinex) have officially reached a new all time high

Prior record high: 202854.7531
Current level: 208123.1093

As the market is manipulated by whales, the price of ETH might Rise from here
they are shorting more than total circulating supply with that reckless 100x leverage.
either way this is an end game and there wont be any more bull run or whatever fuck you call it
Hi, quick question. The value on the right represents the amount of ETH shorted correct? So currently there is over 220,000 ETH shorted?

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.
+1 Reply
BuisinessAndMoney james.nagle.31
@james.nagle.31, so if that can't be correct by your own analysis, could it be that those numbers are representing tho OTHER half of the pair...?
james.nagle.31 BuisinessAndMoney
@BuisinessAndMoney, Turns out is correct that there was 220,000 ETH shorted but its not that clear it seems.

Whales could be hedging, buying spot and then shorting on BitFinex etc Orderbooks aren't reliable etc

But you still get a general idea!
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