Institutions go long on ether as Ethereum’s ‘merge’ approaches
Crypto market maker Cumberland said institutional investors have been increasing long positions on ether during the cryptocurrency’s rally this week.
The Chicago-based firm tweeted that despite a slight pullback on Thursday morning the up-trend was intact and technicals aren’t being driven by macro-related issues. It also noted that it was seeing increased flows through its OTC desk. Buy and sell ratios had tilted long over the past week, with the buyers being institutional.