Bitfinex margin traders hold approximately 283,410 ETH in long positions, worth roughly $709 million, the highest level in over four years. Long positions surged 157% in just seven days, rising from around 82,500 ETH in late August to over 283,000 ETH. The long-to-short ratio stands at approximately 80:1, with only about 3,530 ETH in shorts, worth roughly $8.8 million. In late September 2026, short positions had peaked at a four-year high, between 73,000 and 101,000 ETH, before collapsing sharply. This setup, with shorts at very low levels against massive longs, raises the possibility of a limited short squeeze, though the bigger risk may be a long squeeze if the price drops.
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