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Whale JackYi: About 5 billion USD in ETH short orders could trigger a short squeeze, and Ethereum is expected to reach 3000 USD.
ChainCatcher news, JackYi, the founder of LD Capital and a Whale, published the simplest reasons for being bullish on ETH on X: “Currently, the value of CME short positions is 1.3 billion USD, the value of AAVE short positions is 1 billion USD, and the total short positions across various platforms amount to approximately 3 billion USD, totaling around 5 billion USD in ETH short orders that will be subject to a short squeeze. This short squeeze may drive ETH to reach 3000 USD, or even 3500 to 4000 USD, which is the core reason for holding 100,000 ETH call options.” According to Coinglass data, the total open interest of Ethereum futures contracts across the network has reached 14,939,700 units, approximately 4.1546 billion USD, with a 24-hour increase of 7.53%, setting a new historical high.