Short Sellers are depressing the price of Bitcoin via the “Basis Trade”, basically they short sell at the same time as they buy futures in the ETFs and earn 9%, with which they purchase Bitcoin and other investments. This is reportedly what GrayScale did to get so big. I will post some snips from the video and the link to the video, because if you are into mining Bitcoin as I am, you might be wondering about this. I tell you right now, if you have the money to pay your electric bill, then DO NOT SHUT OFF your Bitcoin ASIC Miners. Because miners only mine approx 450 per day and as one of these snips show, one day, over 12,000 Bitcoins were purchased…26 X the daily mining rate…
These "Basis Trades" last for approximately 21 days. Of course These institutions can make this trade over and over...but eventually the fact that Bitcoin is limited to 21 Million Coins Max, will bite them in the patutie, just not soon enough.
Here is the snip, from zerohedge, showing the number of shorts (There have never been this many): 
Here is the video, $5.8 BILLION Bitcoin Shorts Suppressing The Price?, Youtuber Luke Mikic.
I cannot tell if the images I attempted to load will be viewable, if not, no worries, they are all in the video.
Here are a few snips from the video to wet your interest...good information all:
The Net Bitcoin ETF Flows, Daily and Total from Jan 12, 2024 through Jun 7, 2024: 
Bitcoin: Supply held by entities with over 100 - 1k (Note Increase since Jan24 to later in the year): 
Mr 100, whoever he is, has sold at the last couple of 70K highs, and bought at the low point between them: 
That’s Luke Mikic in the pip.
Shows this basis trade, orange is Futures and Dark Blue are shorts: 
11 Bitcoin focused companies, miners, etc... and the percentage of shorts against them for June 4th: 
Well my crystal ball predicting Bitcoin and Stocks might be broken, but as long as I can pay for the Electricity without selling my Bitcoin, that is exactly what I intend to do...Figure some time between December 2024 and June 2025, the Price will exceed $100,000.00 per Bitcoin and could reach $400,000.00 per Bitcoin. If I had to sell some of my Bitcoin to pay the Electric bill, and could wait, I would wait until Bitcoin exceeds $100,000.00 at least...not going to have to wait that long is my guess, in spite of these short sellers earning 9% annually on their basis trade!
To be honest that is probably the only thing that will stop this, is the supply of available Bitcoin to get down to next to nothing, so that these hedge funds know they can at most purchase 450 per day and that is only if all the Bitcoin miners sell their mined coins…I for one, do not intend to.
If forced to, will hold out for a higher price and sell enough to cover multiple months so I can wait for the price to get even higher before I sell more. Imagine if all of the miners did this!