Hedge Funds Heavily Betting For Bitcoin To Fall: Will This Strategy Fail?
Summary
Bitcoin is facing selling pressure after a flash crash, with $12 billion in short positions on BTC futures. Hedge funds and Wall Street firms are increasingly shorting Bitcoin futures, a risky strategy that could lead to massive losses if prices unexpectedly spike. Despite the selling pressure, spot Bitcoin ETF issuers in the US have been on a buying spree, adding 25,729 Bitcoin in the first week of June, signaling optimism about the future. If prices break below $66,000, it could signal a trend shift.
