Whale Positioning Update 🐳

$BTC, $ETH, and $SUI are all currently net SHORT with high leverage. This indicates a strong bearish sentiment from large holders across these assets.

Details of these significant short positions are as follows:

$BTC short: ~82 BTC at ~89.3K (40x cross margin).
$ETH short: ~892 ETH at ~3,035 (25x cross margin).
$SUI short: ~790K SUI at ~1.446 (10x cross margin).

Technical View & Insights 📊

These are substantial, cross-margin positions, indicating significant directional pressure rather than short-term hedging or scalping. The intent appears to be a sustained move.

Notably, funding rates remain positive for $ETH and $BTC. This means short positions are currently being paid, suggesting there's no immediate pressure for them to cover.

Market Bias & Outlook 📉

As long as price remains below local resistance, any rallies are likely to be met with selling pressure.

A short squeeze scenario would only become likely if $BTC reclaims and firmly holds above key resistance levels with significant volume.

Otherwise, the prevailing whale flow suggests either continued downside momentum or a period of range compression before the market's next significant move.

Disclaimer: This content is for informational purposes only and not financial advice. Always conduct your own research.