Ethereum Price Plummets, but Short Interest Surge Hints at Potential Rebound

Ethereum experienced a sharp drop to $3,700, triggering concerns among traders and investors who witnessed the sudden halt in its recent upward rally. The price decline led to an increase in short positions across major exchanges, suggesting a potential price rebound. Santiment data reveals a significant rise in short interest during this dip, hinting that some market participants anticipate a price bounce.