The number of bearish positions in Ethereum (ETH) on the Bitfinex exchange has updated the historical maximum.
At the time of writing the number of short orders in a pair of ETH/USD is around 200 000. Yesterday this figure was 211 000, which is the highest value for all time.
Compared to the previous week, the number of short positions increased by about 80%, and towards the middle of August by more than 160%.
Note that Bitfinex is not the world’s largest stock exchange by trading volume Ethereum:
The increase in the number of short positions on the ETH occurs on the background of strengthening of bearish sentiment. Thus, during 5-6 September, the price of bitcoin fell more than $1100 (about 15%). Total market capitalization during the same period decreased by $40 billion.
Currently, the total cost is represented on the cryptocurrency market is $204 billion, the Largest share of bitcoin — 54.9 per cent.
As for Ethereum, the price did not move against the market. If three or four days ago ETH were traded at around $280-290, currently the price is close to $219.
Compared to their January highs ($1200-1300) price Ethereum dropped to date, more than 80%. Thus, it is not surprising that investor confidence in the growth of the second capitalization crypto-currencies now very low.