Whales Open Short Positions on Bitcoin at $88,000
The Bitcoin market is seeing a rise in short positions among major investors. Traders are actively placing bets on BTC’s decline at the $88,000 level, which could signal an upcoming correction.
How Does This Work?
– When the short position indicator decreases, even if the price is rising, it means that large investors expect a drop and are opening shorts.
– When the indicator increases, it suggests that whales are betting on price growth, typically leading to a price surge.
The current market sentiment shows that whales are leaning towards a bearish scenario, even though Bitcoin is near its all-time highs.
The $90,000–$93,000 Zone Will Be Strong Resistance
Most investors who bought BTC during the hype from November 2024 to February 2025 have an average purchase price in the range of $90,000–$93,000.
What Does This Mean for the Market?
– Any approach to this level will trigger strong selling pressure, as many investors will aim to break even.
– Without a confident breakout above this range, setting a new all-time high will be impossible.
– If the market fails to hold above $90,000, a pullback to lower support levels is likely.
Thus, the next few weeks will be critical for BTC’s movement, as large investors continue adjusting their positions.
Ethereum Sets Another Negative Record – Only 53 ETH Burned in One Day
Amid the overall market downturn, Ethereum has hit new historical lows.
On March 22, only 53 ETH (~$106,000) were burned, marking the lowest daily burn in history.
ETH burning is a crucial mechanism that reduces supply and exerts deflationary pressure on the asset. However, current data indicates a significant decline in network activity.
Other Ethereum Lows
The number of active Ethereum addresses has fallen to its lowest level since September 2024.
The number of transactions and daily transferred value have also hit multi-year lows.
All of this signals weakening demand for ETH and decreasing on-chain activity, which could lead to further price corrections.
FUD in the Media – A Repeat of Solana’s Situation?
Many analysts compare the current Ethereum market pressure to Solana’s struggles in 2022.
Similarities Between Ethereum’s Situation and Solana’s Past Struggles
– The media is actively spreading negative forecasts, predicting ETH’s collapse.
– The overall decline in activity creates panic among investors.
– Previously, Solana faced a similar situation but later managed to recover and set new highs.
Despite its current challenges, Ethereum remains a key player in the Web3 ecosystem, and the decline in activity may be temporary.
In recent days, the crypto market has faced key developments:
– Major investors have started opening short positions on BTC at $88,000, possibly signaling an imminent correction.
– The $90,000–$93,000 range will be a major resistance zone, and BTC must break through it to set new highs.
– Ethereum has set a historical low for daily ETH burning, pointing to declining network activity.
– The media continues to push FUD about Ethereum, mirroring past negative narratives around Solana.
The crypto market remains in a phase of uncertainty, and the coming weeks will be crucial in determining its next direction.
