Serious bets are being placed against Ethereum. Several names closely following the crypto market have recently been reviewing their ether positions. Short position investors like Culper are predominantly leaning towards bearish strategies with around 56 positions.

Tom Lee also expresses concern by highlighting BitMine's "death cycle" risk. There are doubts about the sustainability of mining operations. Especially the energy costs and the risk of hardware becoming outdated threaten long-term profitability.

Such warnings are increasingly seen in the market. Some analysts believe that Ethereum's movement range in the near term may be limited. Still, it is not yet clear how much the market will weigh these negative views. Volatility is expected in the short term.