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Whale JackYi: A $5 billion ETH short position might trigger a short squeeze, potentially pushing Ethereum to $3,000.

2025.06.11 16:24:45

BlockBeats has reported: On June 11th, JackYi, the founder of LD Capital and a whale, posted on X the most straightforward reason for being bullish on ETH. He stated, "Currently, the short positions on CME are valued at $1.3 billion, the short positions on AAVE are at $1 billion, and the total short positions across various exchanges are approximately $3 billion. In total, about $5 billion worth of ETH short positions are likely to experience a short squeeze, which could drive ETH to $3,000 or even as high as $3,500 to $4,000. This is the core reason for holding 100,000 ETH call options." According to the data from Coinglass, the total Ethereum futures open interest across all platforms has reached 14.9397 million ETH, which is approximately equivalent to $41.546 billion, showing a 24-hour increase of 7.53% and hitting a historical high. BlockBeats previously reported that on June 10th, whale JackYi reiterated his extremely bullish stance on Ethereum and its ecosystem tokens. He disclosed that he is holding 100,000 ETH call options and provided the reasons why he believes the Ethereum ecosystem is undervalued: the ETH token itself is undervalued, with optimism that its ETH/BTC ratio will recover during the bull market; projects with real revenue, users, and products will be the first to benefit from the inflow of traditional capital once the cryptocurrency policies ease; and more recently, Wall Street funds have been allocating investments into Ethereum.
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