Ethereum, just like bitcoin, saw a relief rally that pushed its price to a new three-week high. The digital asset is now trading above $1,300 for the first time since mid-December 2021, and so far, has been able to hold its gains in the market. However, not everyone is betting on the continued growth of the cryptocurrency, which could end up being a deterrent to further upside for the digital asset. Ethereum Whales Go Short Chinese journalist Colin Wu, popularly known as Wu Blockchain on Twitter posted a screenshot that showed that ethereum whales were still very bearish on the digital asset. For one, there were 26,000 put options for the cryptocurrency at a strike price of $400. This is a more than 200% decrease from the current price of the asset. Related Reading: Solana’s BONK Crashes 50% In 24 Hours, Is It Time To Get Out? The traders were placed on Saturday, December 7, according to the photo, showing a high conviction of an expected price drawdown in the coming months. These options were also set to expire on June 30, giving th ..
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