A short story of recent $ETH price action and why a major crash is coming.

During 2020 someone bid heavily on ETH markets and deposited it all into Grayscale trust.

Take a look at the premium over the past year.

100% on Dec 31st.

This group/cartel were likely the giga bull "punters" on all ETH options during 2020.

The expiration. January 4th.

This is the price action of $ETH on the eve of the unlocking.

This person/fund massively covered shorts or bought back $ETH with all of the cash from the unlocking on the early morning of the 4th.

What happened to $ETHE on the 4th?

ALL of the shares were market sold to retail, crushing the $ETHE premium.

The premium fell from a 5 year average of 700%
median of 350% to just 10%.

This massive pump was likely the blowoff top. Holders of $ETHE will be left with the bags.

@charliebilello

There was a massive 70 million eth short liquidation last night... could that have been the
@Grayscale
ETHE holder being liquidated on his short hedge? hours before he were to get his money from dumping $ethe?

Right into the sell orders of @CryptoHayes ?

𝕨𝕙𝕒𝕥 𝕚𝕗?