According to Fintel analysis, institutions have established a net short position of $6.9 billion in MicroStrategy, the top cryptocurrency-related company, accounting for 23.14% of its market value, based on the largest short position list disclosed by institutions to the SEC. This high percentage indicates strong bearish sentiment or hedging. If market conditions change, a short squeeze may occur. In addition, Coinbase's net short position is $1.1 billion and Marathon's net short position is $100 million. (CryptoSlate)