Speculators Have the Largest ETH Short Position Ever - Are They Justified?

A strong Ethereum is a silver bullet for the crypto industry since it enhances faith that crypto is more than just Bitcoin. While Ethereum has always appreciated in tandem with Bitcoin, this cycle is a huge miss for altcoin. ETH is performing dismally, and short sellers have now placed the biggest short position ever on the coin. Are they justified?

Let’s find out.