According to Cas Abbé on X (Aug 23, 2025), ETH CME net shorts remain at their highest level even as ETH set a new all-time high today, signaling persistent bearish positioning in Ethereum futures markets, source: Cas Abbé on X, Aug 23, 2025. The same source notes that while some positions are delta-neutral, the majority are outright shorts, source: Cas Abbé on X, Aug 23, 2025. Cas Abbé adds that a decisive move above $5,000 could force short covering and spark a squeeze, creating upside volatility risk for ETH (ETH), source: Cas Abbé on X, Aug 23, 2025. For traders, this skewed positioning highlights elevated short-squeeze risk near the $5,000 breakout level, per the same source, source: Cas Abbé on X, Aug 23, 2025.