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Grey release: the recent decline in ETH is relatively large or due to the high long position of perpetual futures, leveraged traders in the Asian market dominate the clearing
Grey release analysis points out that one of the reasons for the relatively large decline in the price of Ethereum appears to be the excessive long position in perpetual futures. In May 2024, as the Securities Exchange Commission (SEC) approved the issuer's 19b-4 application for the US spot Ethereum exchange-traded product (ETP), traders significantly increased their total positions in perpetual futures, perhaps in anticipation of further price increases following full regulatory approval...
2024-08-09 07:51:03
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