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

💡 DMK Insight

Futures traders cutting back on bearish Bitcoin positions is a bullish signal for BTC’s momentum. Historically, when traders reduce their short bets, it often precedes significant price rallies, as seen in 2023 and 2025. With Bitcoin currently at $67,594.00, this shift in sentiment could indicate that traders are anticipating further upward movement. If BTC can maintain above the $65,000 level, it might attract more buyers, pushing the price even higher. Keep an eye on the open interest in futures contracts; a rising open interest alongside price increases could confirm the bullish trend. But here’s the flip side: if we see a sudden surge in short positions again, it could signal a potential reversal. So, monitor the $70,000 resistance level closely; a breakout above that could trigger a new wave of buying. Watch for any changes in trading volume as well, as that could provide clues about the strength of this rally.