Ethereum is hovering at $2,818 this Sunday, but the quieter spot price action 
is wildly out of sync with what’s happening under the hood. Derivatives 
traders are loading up, shifting size across venues, and positioning ahead of 
a dense cluster of expiries that could force ethereum out of its holding 
pattern sooner rather than later. […]

Ethereum Price Stalls as Derivatives Traders Load up for the Week Ahead

According to the latest on-chain data, investors have been excessively betting 
on the Bitcoin price in recent weeks, leading to its overall struggles. Longs 
Vs Shorts Imbalance — How This Induced Price Crash In a November 22 post on 
social media platform X, Alphractal CEO and founder Joao Wedson revealed the 
underlying dynamics behind Bitcoin&#8217;s recent unchecked fall. In deciphering 
this downward trend, the crypto pundit evaluated the Estimated Long/Short 
Positions metric, which estimates how much of the Open Interest across 
exchanges is dedicated to long positions relative to short positions. Wedson 
reported that, across 19 exchanges, there are about 71,000 BTC positioned in 
longs, while a relatively smaller amount of BTC (27,900) is dedicated to 
shorts. While this observation does not include data from the Chicago 
Mercantile Exchange (CME), the discrepancy between longs and shorts remains 
unusually large. Related Reading: Kiyosaki Dumps Bitcoin At $90K After 
Predicting A $250K Moonshot – Here’s Why This imbalance is significant because 
when there are clusters of long positions at similar price levels, the market 
tends to lean into a more fragile state. Moderate pullbacks beneath these 
clusters often lead to a cascade of forced liquidations (known as a long 
squeeze) — an event which could in turn push prices further south. Notably, 
Wedson pointed out that traders must have been convinced that $100,000 was 
Bitcoin&#8217;s price bottom — a speculation that soon became null after its 
failure. Afterwards, $90,000 came into focus, with another series of 
liquidations following suit. At the moment, $84,000 seems to be the price 
majority of Bitcoin&#8217;s speculative traders target as the new price bottom. 
These liquidation events that took place after the $100,000 and $90,000 
supports were breached provided more buy-side liquidity for the Bitcoin price 
to topple. At the same time, most significant short positions have been closed 
off, making it difficult for a more defined price recovery to take place, as 
there is barely any sell-side liquidity to send the Bitcoin price to the 
upside. For Bitcoin to recover, Wedson explained that there needs to be a 
significant decrease in long positioning, while short exposure goes on the 
rise. Watch Out For $81,250 — Analyst In another post on X, technical analyst 
Ali Martinez noted that Bitcoin&#8217;s 2-year moving average, which stands at 
approximately $81,250, is an important landmark for the future trajectory of 
the flagship cryptocurrency. The analyst explained that historical failures of 
the 730-day SMA have often marked the beginnings of bear markets. Thus, in the 
scenario where the Bitcoin price slips past its current 2-year average price, 
we could be witnessing the start of a long bearish cycle As of press time, 
Bitcoin holds a valuation of $86,251, reflecting an over 3% price jump in the 
past 24 hours. Related Reading: Only An Asteroid Can Sink MSTR’s Bitcoin Bet, 
CryptoQuant CEO Says Featured image from iStock, chart from TradingView

Bitcoin Rapid Downturn Triggered By Excessive Long Positions — Expert Weighs In

Up to one-fifth of all crypto companies may have North Korean workers embedded 
in their operations, a security expert warned at Devconnect in Buenos Aires. 
Pablo Sabbatella, who founded web3 audit firm Opsek and serves as a Security 
Alliance member,…

North Korea has infiltrated up to 20% of crypto firms, security expert says

According to a myriad of reports, Aerodrome Finance and Velodrome Finance 
spent Saturday putting out fires after a DNS hijack quietly rerouted users to 
phishing sites. Aerodrome–Velodrome Front Ends Compromised The Base and 
Optimism platforms woke up on Nov. 22 to find their front ends hijacked, 
sending unsuspecting users straight into malicious look-alikes designed to […]

DNS Attack Strikes Aerodrome and Velodrome as Aero Merger Nears

In this edition of the weekly recap, Cardano experienced an unexpected chain 
split from a malformed transaction, a miner defied odds to mine a Bitcoin 
block worth $265,000, and a UK-led initiative targeting Russian sanctions 
evasion reached 128 arrests. Cardano…

Cryptocurrency price in PKR