Whale JackYi: Approximately 5 billion USD worth of ETH short positions may trigger a short squeeze, with Ethereum expected to reach 3,000 USD
Powered by ChatGPTAccording to ChainCatcher, LD Capital founder and whale JackYi posted on X the simplest bullish reason for ETH: "The current short positions on CME are valued at 1.30 billion USD, $AAVE short positions at 1 billion USD, and short positions across various trading platforms total about 3 billion USD. In total, approximately 5 billion USD worth of $ETH short positions will be short squeezed. This short squeeze scenario could push $ETH to reach 3,000 USD, or even 3,500 to 4,000 USD. This is the core reason for holding 100 thousand $ETH call options." According to Coinglass data, the total open interest of Ethereum futures contracts across the network has reached 14.94 million contracts, equivalent to about 41.55 billion USD, with a 24-hour increase of 7.53%, hitting a record high.