Whale JackYi: About 5 billion USD in ETH short orders may trigger a short squeeze, with Ethereum expected to reach 3000 USD.

On June 11, JackYi, the founder of LD Capital and a giant whale, published the simplest reason for ETH bullishness on X, “The current CME short position is worth $1.3 billion, the AAVE short position is worth $1 billion, and the short positions on various trading platforms are about $3 billion, and a total of about $5 billion of ETH short orders will be shorted, and the short market may prompt ETH to reach $3,000, or even $3,500 to $4,000, which is holding 100,000 ETH.” The core reason for a call option." According to Coinglass data, the open interest of Ethereum futures contracts on the whole network reached 14.9397 million, or about $41.546 billion, an increase of 7.53% in 24 hours, a record high. BlockBeats previously reported that on June 10, the giant whale JackYi once again issued a post reiterating that he is firmly bullish on Ethereum and its ecological tokens, saying that he currently holds 100,000 ETH options and believes that the Ethereum ecosystem is undervalued due to the following reasons: the ETH token itself is undervalued, and he is optimistic about the ETH/BTC exchange rate rebounding during the bull market; After the liberalization of the crypto policy, projects with real income, users, and products will be the first to benefit from the inflow of traditional capital; Wall Street money is recently flowing into Ethereum to open positions.