JackYi, a well-known name in the cryptocurrency market and the founder of LD Capital, expressed a strong bullish view for Ethereum (ETH) in his post on the social media platform X.
LD Capital Founder JackYi: “$5 Billion ETH Short Position Could Get Stuck, Target $4000”
JackYi noted that the massive short positions in Ethereum could create a “short squeeze” in the near future.
According to JackYi, currently:
- Approximately $1.3 billion worth of ETH short positions on CME (Chicago Mercantile Exchange),
- $1 billion worth of debt-based short positions on Aave,
- There are approximately $3 billion worth of short positions on other major crypto exchanges.
Emphasizing that there is a total of approximately $5 billion worth of ETH short positions, JackYi stated that if these positions are collectively squeezed, the ETH price may first rise to $3000, and then to the $3500-$4000 range.
JackYi also said that behind this bullish scenario lies the 100,000 ETH call option position that he personally holds.
Ethereum Futures Hit Record Highs
According to data provider Coinglass, open interest in Ethereum futures has also reached historic levels.
- There is an open position of 14.94 million ETH across the entire network.
- This figure corresponds to approximately $41.5 billion.
- The increase rate in the last 24 hours was recorded as 7.53%.
This development shows that interest in Ethereum is increasing again and institutional investors are taking more aggressive positions.
LD Capital founder JackYi reiterated his optimism for the Ethereum ecosystem in another post on June 10. JackYi’s assessments are summarized as follows:
- ETH’s own token value is still seriously low, especially the ETH/BTC ratio is expected to recover in the bull season.
- As regulations ease, traditional capital will rapidly flow into projects with real users, products and revenue models.
- Wall Street capital is now actively positioned in the Ethereum ecosystem.
JackYi’s comments have resonated widely with investors who believe Ethereum is in a strong position from both a technical and fundamental perspective. Market participants are now closely watching for clues as to when a short squeeze will occur.
*This is not investment advice.
