According to a report circulating on social media, one of the biggest hedge funds, potentially Bridgewater, has a $3.1 billion short position on Ethereum (ETH). The authenticity of the report is questioned, and it is suggested that the fund in question could be Citadel. The potential short position is relatively small compared to the available supply of ETH, and the effect of a short squeeze may be limited. ETH is mostly shorted by mainstream traders, with significant short positions on the CME. However, these positions are cash-settled and may not increase demand for ETH. ETH is currently trading at $2,672.78 and recovering slightly against Bitcoin. The market is expecting a bottom for ETH and larger altcoins, with hopes of triggering a short squeeze in the future. Bridgewater CEO, Ray Dalio, has shown interest in crypto, particularly Bitcoin. ETH has become more volatile and relies on DeFi for its use cases.



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