Currently, hedge funds are shorting Ethereum in unprecedented numbers, raising speculation of a potential short squeeze in the near future. Despite a recent surge that brought Ethereum close to its all-time highs, dominant sellers have pushed prices back down, triggering concerns among traders. As market sentiment shifts, both sides of this dynamic will influence Ethereum’s trajectory. Market participants need to keep an eye on Ethereum’s price movements and investor sentiment, as they could indicate a resolution to this ongoing battle.