Hedge Funds Short $BTC Futures at Record Levels, CFTC Data Reveals

Hedge funds are currently shorting Bitcoin at record levels, indicating a hyper-bearish stance towards the cryptocurrency. Data from the US Commodity Futures Trading Commission (CFTC) reveals that hedge funds, particularly those using leverage, have accumulated record-breaking short positions in the Chicago Mercantile Exchange's (CME) $BTC futures. This trend raises questions about potential market impacts, drawing parallels to the GameStop squeeze scenario.