$138 million! BTC whales are closing short positions intensively—will there be support below?

AIcoin2026/04/07 02:56

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06:51 (UTC+8)~07:07 (UTC+8), after BTC dropped below $69,100, major players intensively closed short positions, with a total of 15 limit orders executed, closing shorts worth $138 million at an average price of $68,764.4. At present, contract positions are trending downward, with no significant capital entering the market. After shorts closed, there was no follow-up, so the price may dip further. In the short term, it is recommended to focus on the major buy order range: wherever the order wall is, that's where the main line of defense lies. You can use the PRO "Major Order Tracking" indicator to monitor large limit orders, cancellations, and transaction trends in real time to pinpoint the position of the main line of defense in advance. The data is for reference only.

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Michael Burry has dramatically increased his short positions on Micron, Palantir, and semiconductor ETFs, stating that the scale is “quite large.” His main reasoning is that Samsung, SK Hynix, and Micron squeezed their conventional DRAM production to meet AI-driven HBM demand, resulting in a shortage; however, with production capacity now ramping up, the Damocles sword of oversupply is hanging over the market. The inventory warning from Acer’s CEO has further convinced him that the memory cycle has already peaked.

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