I just saw that Culper, one of the most active short sellers, is heavily betting against Ether. Nothing new from him, but the interesting part is that he’s not alone in this pessimistic view.

Tom Lee and his team at BitMine are also raising red flags about Ethereum. Their analysis talks about a potential risk of a death spiral, which basically means a negative feedback loop where the price drop triggers more selling, which in turn pushes the price down further. It’s the kind of dynamic that can accelerate things if the market loses confidence.

The combination of these two fronts against Ether is remarkable. When you see experienced traders and analysts warning about the same negative feedback risks, it’s worth paying attention to what’s happening with the fundamentals.