Bitcoin May Rebound to $85K as CME 'Smart Money' Slashes Short Bets
A shift in CME 'smart money' positioning, slashing short bets, suggests Bitcoin could rebound toward $85,000.Summary
Bitcoin (BTC) may be poised for a recovery, mirroring past patterns where a reduction in bearish bets by large speculators on the CME preceded significant price rallies. Non-commercial traders have recently reduced their net short position, indicating a shift towards being net long, a move analyst Tom McClellan notes preceded a 70% rally in April 2025 and a 190% gain in 2023.
Currently, Bitcoin is defending its 200-week Exponential Moving Average (EMA) near $68,350, a historical floor during major drawdowns. Combined with an oversold weekly Relative Strength Index (RSI), this supports the odds of a rebound, potentially targeting the 100-week EMA at approximately $85,000 by April.
However, McClellan cautions that this shift is a condition, not a definitive signal, warning that a failure to hold the 200-week EMA could trigger a significant drop, potentially toward $40,000, similar to the 2022 scenario.
(Source：Cointelegraph)