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Unwinding of Ether Short Are Fueling ETH Price Surge, CF Benchmark Says

Summary by Coin Desk
Ether's ETH rally, though impressive, leaves much to be desired. That's because the unwinding of shorts is said to be fueling the rally, not fresh longs or bullish leveraged bets on the Chicago Mercantile Exchange (CME)."The rally is primarily the result of short covering – traders unwinding bearish positions – rather than a surge of bullish conviction," Sui Chung, CEO of crypto index provider CF Benchmarks, told CoinDesk. CME's derivatives, pre…

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Coin Desk broke the news in Manila, Philippines on Friday, May 16, 2025.
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