2026-01-03 01:24:37

Looking at the recent ETH market trend, the market structure is quite crazy.

Just compiled a whale holding data, the number of short big players (747) is exactly 4 times that of long positions. Although the price has already surged to $3128, the shorts have accumulated unrealized losses of over $120 million, but these big players show no sign of retreating. On the contrary, they have formed a very strong suppressive force.

This is the most heartbreaking part—the long-short position ratio is only 30.8%. How do you view this extremely asymmetric structure? Is it the last desperate struggle of the shorts, or the final gasp before a sharp rise? Both possibilities exist, but the risk signals are indeed very clear.

Let's observe the situation quietly in the short term. Whether these over 700 short whales can push the market back remains to be seen in the next few days.

ETH0,12%

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TaxEvader

· 01-05 23:03

747 short whales are stubbornly holding onto 120 million in unrealized losses without selling. How much resilience does that take... I bet these big players will end up taking a big loss in the end. The signal of a trapped bear fighting on is indeed strong, but let's not get too optimistic. We'll see how the market moves in the next few days. This position ratio is too abnormal; it will either trigger a blowout or be squeezed from the opposite side. It feels like there is no middle ground.

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StablecoinEnjoyer

· 01-05 14:28

Wow, 747 short whales still haven't withdrawn? How much loss must they have to be so stubborn? Losing 120 million and still holding on, I really didn't expect that. But on the other hand, this kind of extremely asymmetric structure is indeed strange, feels like the shorts are making a last-ditch struggle? Looking at the position ratio of 30.8%, it's obviously paving the way for the bulls. Will it explode directly when there's a rebound?

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StrawberryIce

· 01-03 01:54

Short position unrealized loss of 120 million still holding on, how stubborn can you be... It’s like going all-in against the market maker Wow, 747 short whales surrounding, this pressure is extraordinary A 30.8% position ratio, honestly a bit scary, feels like it could reverse at any moment But this might also be the final feast, the shorts’ last struggle, then everyone goes their own way What do you think? I’m just here to watch the show, anyway, there will be an answer today, tomorrow, or the day after

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NotGonnaMakeIt

· 01-03 01:54

747 short whales are still holding on stubbornly, really ruthless. Can they really withstand a floating loss of 120 million? I might as well just give up directly.

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HodlAndChill

· 01-03 01:51

747 shorts stubbornly hold on to 120 million in unrealized losses without selling. How stubborn can they be... Now it's really a test of whether they can turn the tide this time.

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LiquidatedNotStirred

· 01-03 01:48

747 short whales are holding onto 120 million in unrealized losses without selling. How deep must their obsession be, haha I totally don't understand what these big players are betting on; I just feel like this market is on the verge of a breakout The bears are trapped, while the bulls are still in a daze. Truly impressive Let's wait and see, the answer will come soon This data is presented like a suspense drama, so many twists and turns

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OnChain_Detective

· 01-03 01:48

ngl this 30.8% long/short ratio screams statistical anomaly... 747 whales holding shorts underwater by $120M+ yet still not capitulating? pattern analysis suggests coordinated suppression or major liquidity trap incoming. let me pull the transaction data on those wallet clusters—something doesn't add up here

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