[CME 'Smart Money' Reduces Short Positions, BTC Holds 200-Week EMA and May Reach $85,000 Before April] According to the latest report from the CFTC, the net short positions of non-commercial Bitcoin futures traders on the CME have dropped from approximately +1,000 contracts last month to around -1,600 contracts, indicating that 'smart money,' including hedge funds and similar financial institutions, is rapidly turning bullish. This shift is similar to market conditions before Bitcoin prices rose by 190% in 2023 and 70% in 2025. Currently, Bitcoin is holding above the 200-week EMA (approximately $68,350), which has served as a critical support level during most bear markets over the past decade. Analysts predict that if Bitcoin successfully rebounds, it could reach the 100-week EMA (around $85,000) before April. However, analyst Tom McClellan warns that the shift in 'smart money' reflects market conditions rather than a definitive signal, and Bitcoin prices could still potentially dip further into the $40,000 to $50,000 range.