Retail long positions in Ether reach 94%, raising concerns of a possible bull trap

Retail Ether long positions have hit 94%, a level often seen as a contrarian indicator. While this indicates strong support, it may also suggest an overcrowded market that could lead to profit-taking and potential reversals.

BitMine has now acquired over 300,000 ETH this week, adding to its strong institutional presence in the market, as retail traders remain optimistic despite technical indicators cautioning against an unbridled rally.