Jackyi, a well-known name in the cryptocurrency market and founder of LD Capital, expressed his strong bullish view of Ethereum (ETH) in a post on social media platform X.
Jackyi, founder of Ld Capital: “A $5 billion ETH short position could get stuck, target of $4,000”
Jackyi pointed out that Ethereum’s large short positions could create “short apertures” in the near future.
According to Jackyi, now:
- CME (Chicago Mercantile Exchange)’s short ETH position worth approximately $1.3 billion;
- Aave’s short position on a billion-dollar debt-based basis;
- Other major crypto exchanges have short positions worth around $3 billion.
Emphasizing that there are ETH short positions worth around $5 billion in total, Jackyi said that if these positions are narrowed down collectively, ETH prices could first rise to $3,000 and then rise to the $3,500-4,000 range.
Jackyi also said that behind this bullish scenario is the position of the 100,000 ETH call option he personally holds.
Ethereum futures hit record highs
Open interest in Ethereum Futures has also reached a historic level, according to data provider Coinglass.
- There are 1,494 million ETH open positions across the network.
- This figure amounts to approximately $41.5 billion.
- The rate of increase over the past 24 hours was recorded as 7.53%.
This development shows that interest in Ethereum has risen again, and institutional investors are gaining more aggressive positions.
Jackyi, founder of Ld Capital, reiterated his optimism for the Ethereum Ecosystem in another post on June 10th. Jackyi’s assessment is summarized as follows:
- ETH itself has a very low token value, and the ETH/BTC ratio in particular is expected to recover during bull season.
- As regulations ease, traditional capital flows rapidly into projects with real users, products and revenue models.
- The Wall Street capital is currently actively located in the Ethereum ecosystem.
Jackyi’s comments resonate widely with investors who believe that Ethereum is in a strong position from a technical and fundamental perspective. Market participants are closely watching clues as to when short slants occur.
*This is not investment advice.
