Good morning. #Ethereum shorts continue to rise. On December 6th, funding rates peaked when ETH hit $4,200, followed by a drop to current levels. Despite the decline, there hasn’t been a significant drop in open interest, indicating large short positions being opened.

As seen in the second chart, Ethereum shorts on the CME recently reached a new record.

While it’s uncertain when these shorts will be closed, I believe it won’t take too long, and they are likely to be closed in the coming days as Ethereum starts to rise.