Bitcoin price may rebound to $85K as CME ‘smart money’ slashes shorts

💡 DMK Insight

Futures traders cutting back on bearish Bitcoin positions is a big deal right now. This shift often signals a bullish sentiment, especially considering the historical context where similar moves preceded significant price rallies—like the 70% surge in 2025 and the 190% jump in 2023. With BTC currently at $66,217.00, this could mean we’re on the brink of another upward trend. Traders should keep an eye on the $70,000 resistance level; if we break through that, we could see a rush of buying pressure. But here’s the flip side: if bearish sentiment resurfaces, it could lead to a sharp correction, so watch for any sudden increases in short positions. In terms of strategy, consider leveraging this bullish sentiment for short-term trades, but also prepare for volatility. Monitoring the futures market for changes in open interest and volume can provide clues on whether this bullish trend is sustainable or just a temporary blip.