Arkham flags $85M ETH short as price nears $1,900
- Blockchain analytics firm Arkham has identified that the wallet pension-usdt.eth is holding an US$85 million short position on Ethereum (CRYPTO:ETH), opened at an average entry price of approximately US$1,700 and now sitting at an unrealised loss of approximately US$9.8 million as ETH approaches US$1,900.
- The short position has been maintained for over two months, with Ethereum (CRYPTO:ETH) gaining approximately US$200 from the entry level, increasing the pressure on the position holder as unrealised losses continue to grow.
- Crypto analysts noted that unrealised losses alone do not indicate immediate liquidation risk, as the position's sustainability depends on the trader's remaining collateral and the agreed liquidation threshold rather than the loss figure alone.
On-chain analysis from HyperInsight placed the estimated liquidation level for pension-usdt.eth's short position at approximately US$2,435, indicating significant room remains before a forced closure becomes likely at current price levels.
Ethereum (CRYPTO:ETH) was trading near US$1,905 on 18 August 2026, with US$1,900 identified as a key psychological resistance level and a critical price point for the continuation or reversal of the current rally.
A sustained move higher in Ethereum (CRYPTO:ETH) increases the potential for a short squeeze — a scenario where rising prices force the holder to add collateral or close the position by buying back ETH, which can accelerate upward price momentum.
US-listed spot Ethereum (CRYPTO:ETH) exchange-traded funds recorded net inflows of US$49.6 million on 7 August 2026 according to KuCoin data, reflecting continued institutional demand for regulated ETH exposure that competes with bearish derivatives positioning.
The pension-usdt.eth wallet is being monitored by market participants as a barometer for broader market leverage dynamics rather than as a definitive indicator of an imminent short squeeze, with analysts cautioning against drawing conclusions from a single high-profile trade.
At the time of reporting, Ethereum price was $1,936.24.
