Ethereum falls to $3.7K as major shorts hint at price rebound: Santiment
Low exchange reserves and heavy shorting suggest a squeeze could trigger renewed buying momentum for the leading digital asset.
Ethereum dropped to $3,700 as traders increased short positions against the blockchain network, with Santiment, a crypto analytics provider, suggesting the heightened bearish sentiment could signal a potential price rebound.
Crypto analytics show Ethereum’s supply on exchanges has reached unusually low levels while short positions accumulate, creating conditions for potential upward price pressure similar to prior market cycles.
Recent on-chain data indicates Ethereum reserves on exchanges are depleting rapidly, pointing to reduced selling availability that could amplify price bounces when short positions unwind.
Ethereum (ETH) price
Full chart and statsLoading chart…
- Price
- $2,386
- 24h change
- +3.1%
- Market cap
- $291.5B
- 24h volume
- $14.7B
- Circulating supply
- 122.2M ETH
CoinGecko data as of Nov 5, 9:06 AM EST.
Disclosure: This article was edited by Vivian Nguyen. For more information on how we create and review content, see our Editorial Policy.
