Yes, hedge funds are currently shorting Bitcoin. According to recent data, hedge funds have taken record net short positions in Bitcoin futures contracts on the Chicago Mercantile Exchange (CME). This means they are betting on a decline in Bitcoin’s price. Some hedge funds are engaging in a trading strategy known as a “carry trade,” where they short futures while simultaneously buying the asset to profit from the price differential between the spot and futures markets
Additionally, some hedge funds may be preparing for a potential price drop following Bitcoin’s upcoming halving event
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