Short sellers definitely still have a disproportionate hold on the market right now. With the lack of institutional investment large enough to counter the multipliers in favor of the shorts, the price will likely stay depressed. Although, increased OTC markets especially in Russia and other emerging markets - Turkey, China, Eurasia, etc, - may be a boon for Bitcoin in the near future with economic depression. Larger institutional investment coming from the developed markets, mainly the United States, will have the greatest impact on BTC and other large cap cryptos and their projects.