Record Long Positions Opened For Ethereum (ETH)

Many cryptocurrency investors believe that the Ethereum (ETH) price, currently $ 477, will rise in the short term. This belief; It can be confirmed by looking at long positions, the number of which has reached record highs.

Josh Olszewicz shared an image of Ethereum (ETH) investors trading futures on the cryptocurrency exchange Bitfinex today. Drawing attention to the short-long position balance in the market, the crypto currency commentator emphasized that the number of long positions started to rise rapidly.

All-time high number seen

Bitfinex, one of the largest cryptocurrency exchanges, hosts a record number of long positions for Ethereum. Data shared by Olszewicz show that the open positions opened by ETH bulls on the exchange reached an all-time high.

Began to worry investors

The increase in the number of long positions in the market indicates that the number of investors who think that the Ethereum price will increase is also starting to increase. However, some cryptocurrency investors are worried that this development is not positive for ETH.

Seeing too many people starting to take a bullish attitude, investors think this could result in the wind blowing in the opposite direction. Some social media users are giving a bearish message, implying that so many people can’t be right. Others said that the long position increased, but there were not enough buy orders in the market.