According to a report released by S3 Partners, the total short position of cryptocurrency concept stocks has increased to nearly $11 billion so far this year, with more than 80% of the short positions concentrated in two companies, MicroStrategy and Coinbase. As Bitcoin has risen more than 65% this year, betting on the decline of the above stocks has led to a cumulative floating loss of $6 billion for short sellers. However, they are still increasing their short positions and remain firm in their bearish stance. In the past 30 days, even as the stock prices of companies like MicroStrategy have risen, short sellers have increased their short positions. During this period, short sellers invested $974 million in MicroStrategy alone, which completely offset the closing of short positions caused by the rise in stock prices during the same period. Currently, MicroStrategy's short position accounts for about 20% of its outstanding shares, making it one of the most shorted stocks in the US stock market.