Over the past five days following weeks of rallying, Ethereum and the majority of the cryptocurrency market have seen a healthy retracement. ETH decreases from $227 up to $208 from the monthly highs – a price correction that is scarce to 9%. According to data from Bitfinex 's leading cryptocurrency exchange, long ETH positions are now available at $361 million. This figure is well above the amount at the start of the year or the height of the bull market last year, which was 70 million dollars and 150 millions dollars respectively, even though less than 2% of market capitalization.
The fact that Bitfinex investors in Ethereum are more optimistic than ever means that they are confident they can rally the cryptocurrency. An picture posted by a trader shows that a correction on the market recently created the asset from a pennant textbook. Teddy, the analyst who made the map below, shared "The moon project is now delayed.
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