Short interest declines for 6 out of 8 crypto stocks in June

Crypto short interest declined for the third straight month in June.

The majority of the crypto stocks saw a decrease in short interest in the month with only Coinbase Global ( NASDAQ: COIN ) and Core Scientific ( NASDAQ: CORZ ) seeing a slight uptick.

Short interest in Bitfarms ( NASDAQ: BITF ) saw the steepest fall of nearly three percentage points to 8.61%.

Strategy ( NASDAQ: MSTR ) and HIVE Digital Technologies ( NASDAQ: HIVE ) were among other companies that saw short interest decline.

It fell to 9.41% and 4.34% for the companies respectively.

Meanwhile, Coinbase Global ( COIN ) and Core Scientific ( CORZ ) short interest rose to 6.95% and 19.77% respectively.

Overall, about 383M shares were sold short in the crypto sector in June, a dip from 388M in the month of May.

According to short interest data as of June 30, the short dollar volume in the crypto stocks was $18.50B, compared to $14.7B the previous month.

Of these, Strategy, Coinbase and MARA Holdings continued to attract the most interest from short sellers, accounting for $15.84B or 85.62% of the total bets.

Bitcoin ( BTC-USD ) prices remained wobbly throughout July due to tensions in the Middle East, but despite that, it managed to stay above the $100K mark.

However, the cryptocurrency has been showing swift recovery in July with its prices notching new record highs.

Bitcoin surged past the $120K mark for the first time on June 15 amid growing optimism over regulatory advancements and increased institutional interest.

Going further, Standard Chartered has predicted BTC to climb to around $135K by the end of Q3 and $200K by end-Q4. More on Crypto Rethinking CONY As Coinbase Rallies - Tactical Use, Not Income Plan Strategy: Still Sticking With Series A Preferreds Strategy Stock: A Leveraged Way To Play Bitcoin Coinbase's Deribit launches rewards program for USDC holders Coinbase gets new Buy rating from Argus as growth trajectory is poised to continue.

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