{"id":319357,"date":"2024-06-08T10:30:28","date_gmt":"2024-06-08T05:00:28","guid":{"rendered":"https:\/\/dripp.zone\/news\/bitcoin-hedge-fund-net-shorts-jump-record-high-analysts-predict-30-drop-crypto-news\/"},"modified":"2024-06-08T10:33:06","modified_gmt":"2024-06-08T05:03:06","slug":"bitcoin-hedge-fund-net-shorts-jump-record-high-analysts-predict-30-drop-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/bitcoin-hedge-fund-net-shorts-jump-record-high-analysts-predict-30-drop-crypto-news\/","title":{"rendered":"Bitcoin Hedge Fund Net Shorts Jump Record High, Analysts Predict 30% Drop &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div>\n<p>The world\u2019s largest cryptocurrency Bitcoin (BTC) and the broader cryptocurrency market have come under strong selling pressure with the BTC price losing its support at $71,000 and falling all the way to $68,500. As of press time, the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/price\/bitcoin\/\">Bitcoin (BTC) price<\/a> is trading at <span class=\"sc-d1ede7e3-0 fsQm base-text\">$69,404.43<\/span> with a market cap of $1.37 trillion.<\/p>\n<h3>Bitcoin Hedge Funds Net Shorts At Record High<\/h3>\n<p>Analyst Zerohedge has reported a substantial increase in <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/why-is-bitcoin-price-falling-sharply-today\/\">Bitcoin hedge fund net shorts<\/a>, reaching a new record high.<\/p>\n<p><!-- WP QUADS Content Ad Plugin v. 2.0.82 --><\/p>\n<p>Zerohedge remarked, \u201cBig jump and a new record high in Bitcoin hedge fund net shorts. When this snaps, it will make Volkswagen\/GME look like amateur hour.\u201d<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">Big jump and new record high in Bitcoin hedge fund net shorts.<\/p>\n<p>When this snaps, it will make Volkswagen\/GME look like amateur hour <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/86QzbvPIFE\">https:\/\/t.co\/86QzbvPIFE<\/a> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/b9ZAq1eJSf\">pic.twitter.com\/b9ZAq1eJSf<\/a><\/p>\n<p><!-- WP QUADS Content Ad Plugin v. 2.0.82 --><\/p>\n<p>\u2014 zerohedge (@zerohedge) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/zerohedge\/status\/1799222248802226229?ref_src=twsrc%5Etfw\">June 7, 2024<\/a><\/p>\n<\/blockquote>\n<p>This surge in net shorts suggests a highly bearish sentiment among hedge funds, indicating a potential for significant market volatility if these positions are forced to unwind. The situation draws parallels to historic short squeezes, such as those seen with Volkswagen and GameStop (GME), implying that a similar dramatic shift could occur in the Bitcoin market.<\/p>\n<p><!-- WP QUADS Content Ad Plugin v. 2.0.82 --><\/p>\n<p>Bitcoin and the rest of the crypto market came crashing down as the meme stock rally ends. On Friday, the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/gamestop-stock-plummets-27-amid-roaring-kitty-livestream\/\">GameStop (NYSE: GME) share price<\/a> fell by a massive 41% as soon as Roaring Kitty went live.<\/p>\n<h3>Will the BTC Price Correct Further?<\/h3>\n<p>Crypto analyst Ali Martinez has identified a key support level for Bitcoin, emphasizing its importance for the cryptocurrency\u2019s future trajectory.<\/p>\n<p>Martinez stated, \u201cThe most crucial support level for Bitcoin is now at $68,500! If BTC maintains this level, it\u2019s up only from here\u201d. According to Martinez, maintaining the $68,500 support level is vital for Bitcoin\u2019s continued upward movement.<\/p>\n<figure id=\"attachment_201206\" aria-describedby=\"caption-attachment-201206\" style=\"width: 1367px\" class=\"wp-caption aligncenter\"><noscript><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-201206\" src=\"https:\/\/coingape.com\/wp-content\/uploads\/2024\/06\/Bitcoin-BTC-Price.png\" alt=\"\" width=\"1367\" height=\"733\" srcset=\"https:\/\/coingape.com\/wp-content\/uploads\/2024\/06\/Bitcoin-BTC-Price.png 1367w, https:\/\/coingape.com\/wp-content\/uploads\/2024\/06\/Bitcoin-BTC-Price-300x161.png 300w, https:\/\/coingape.com\/wp-content\/uploads\/2024\/06\/Bitcoin-BTC-Price-1224x656.png 1224w, https:\/\/coingape.com\/wp-content\/uploads\/2024\/06\/Bitcoin-BTC-Price-768x412.png 768w, https:\/\/coingape.com\/wp-content\/uploads\/2024\/06\/Bitcoin-BTC-Price-150x80.png 150w\" sizes=\"auto, (max-width: 1367px) 100vw, 1367px\"\/><\/noscript><figcaption id=\"caption-attachment-201206\" class=\"wp-caption-text\">Courtesy: <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/x.com\/ali_charts\/status\/1798421317596946749\/photo\/1\">Ali Martinez<\/a><\/figcaption><\/figure>\n<p><!-- WP QUADS Content Ad Plugin v. 2.0.82 --><\/p>\n<p>Prolonged bullish trends typically lead to substantial downward corrections. Historical data indicates that after an extended bullish phase, a rapid and sharp bearish wave often follows. Analyst Alan Santana predicts that this bearish wave could occur at a speed 2 to 2.5 times faster than the preceding bullish rally.<\/p>\n<p>He explained: \u201cWhen the upward potential of the market is perceived to be exhausted, investors are more likely to exit quickly. Unlike the gradual accumulation during a bullish phase, the sell-off during a correction happens rapidly, leading to a steep decline.\u201d<\/p>\n<p><!-- WP QUADS Content Ad Plugin v. 2.0.82 --><\/p>\n<p>                                <!-- \n\n<div class=\"desktopPostEnd d-on\"><\/div>\n\n --><\/p>\n<div class=\"m-on mobiless\">\n<div id=\"social-section-new\">\n<p>\u2713 Share:<\/p>\n<p>                                  <a rel=\"nofollow noopener\" target=\"_blank\" class=\"social-text_new wp_new\" href=\"https:\/\/api.whatsapp.com\/send?text=https:\/\/coingape.com\/bitcoin-hedge-fund-net-shorts-jump-record-high-analysts-predict-30-drop\/\" style=\"display: block\">  <i class=\"fa fa-whatsapp\"\/><\/a><\/p>\n<div>\n                                <a rel=\"nofollow noopener\" target=\"_blank\" class=\"social-text_new tw_new_logo\" href=\"https:\/\/twitter.com\/intent\/tweet?text=https:\/\/coingape.com\/bitcoin-hedge-fund-net-shorts-jump-record-high-analysts-predict-30-drop\/\"><br \/>\n  <img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/cdn.coingape.com\/wp-content\/uploads\/2023\/08\/14164721\/x-logo.png\" class=\"mb-1\" alt=\"coingape\" width=\"30\" height=\"30\"\/><br \/>\n<\/a>\n                                <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p>          <!-- \n\n<div class=\"m-on pl-2 pr-2\">\n            \n\n<div class=\"row\">\n            \n\n<div class=\"col-6 pr-2\">\n         \n\n<div class=\"Borderboxies_2 mb-3  fullmobx\">\n             \n            <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/top-7-crypto-marketing-firms-of-the-year\/?utm_source=abovesidebartabnews&utm_medium=organicarticle\">\n            \n\n<div class=\"SponserdyWebimg_2\"><img loading=\"lazy\" width=\"834\" height=\"833\" src=\"https:\/\/cdn.coingape.com\/wp-content\/uploads\/2022\/12\/15175104\/top_crypto_marketing_agencies.jpg\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" decoding=\"async\" ><\/div>\n\n\n                \n\n<div class=\"Sponserdtent_2 mt-2\">Top Crypto Marketing Firms \/ Agencies 2023; Here\u2019s Best Picks [Updated]\n <\/div>\n\n\n            <\/a>\n          \n            <\/div>\n\n\n            <\/div>\n\n\n                  \n\n<div class=\"col-6 pl-2\">\n                 \n\n<div class=\"Borderboxies_2 mb-3  fullmobx\">\n             \n            <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/top-10-web-3-games-to-explore-in-2023-here-list\/?utm_source=priceanalysisbar&utm_medium=organicarticle\">\n            \n\n<div class=\"SponserdyWebimg_2\"><img loading=\"lazy\" width=\"834\" height=\"833\" src=\"https:\/\/cdn.coingape.com\/wp-content\/uploads\/2022\/12\/23134356\/jpg_20221223_134223_0000.jpg\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" decoding=\"async\" ><\/div>\n\n\n                \n\n<div class=\"Sponserdtent_2 mt-2\">Top 10 Web3 Games To Explore In 2023; Here List\n <\/div>\n\n\n            <\/a>\n          \n            <\/div>\n\n\n            <\/div>\n\n\n                <\/div>\n\n\n        <\/div>\n\n                    --><\/p>\n<div class=\"TabDicA\">\n<div class=\"TBAcon \">\n<div class=\"authorFlip tabcS\" id=\"TabA201199\">\n<div class=\"authorBox\">\n<div class=\"author_Name\">\n<!--\n                                      \n\n<div class=\"getAuthoname\">\n                                          \n                                                                                 \n                                       <\/div>\n\n \n--><\/p>\n<p>Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.                         <\/p>\n<\/p><\/div>\n<div class=\"author_Image\">\n                                             <img loading=\"lazy\" alt=\"\" src=\"data:image\/svg+xml,%3Csvg%20xmlns=\" http:=\"\" data-lazy-srcset=\"https:\/\/secure.gravatar.com\/avatar\/6d622b7613c3c79c72d94a2e7cffa3b2?s=400&#038;d=mm&#038;r=g 2x\" class=\"avatar avatar-200 photo\" height=\"200\" width=\"200\" decoding=\"async\" data-lazy-src=\"https:\/\/secure.gravatar.com\/avatar\/6d622b7613c3c79c72d94a2e7cffa3b2?s=200&#038;d=mm&#038;r=g\"\/><noscript><img loading=\"lazy\" alt=\"\" src=\"https:\/\/secure.gravatar.com\/avatar\/6d622b7613c3c79c72d94a2e7cffa3b2?s=200&#038;d=mm&#038;r=g\" srcset=\"https:\/\/secure.gravatar.com\/avatar\/6d622b7613c3c79c72d94a2e7cffa3b2?s=400&#038;d=mm&#038;r=g 2x\" class=\"avatar avatar-200 photo\" height=\"200\" width=\"200\" decoding=\"async\"\/><\/noscript>                                       <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div class=\"TabDesCm tabcS\" id=\"TabD201199\">\n<p>  The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.<\/p>\n<\/div><\/div>\n<\/p><\/div>\n<p><!-- \n\n<div class=\"container p-1 mb-3  mt-4 \">\n    \n    \n     \n\n<div class=\"Maintitle clgrn border-0\">\n               <span>Crypto Stories<\/span>\n                    \n                    \n                    <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/web-stories\/\" class=\"viewAll p-0\">View all<\/a>\n                <\/div>\n\n\n     \n\n<div class=\"row mobileXS \">\n                     \n          \n\n<div class=\"item col-md-4\"> \n        \n\n<div class=\"Newseducation\">\n         \n\n<div class=\"Eduimg WduImg\">\n            <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/web-stories\/5-important-highlights-from-the-recent-fed-meeting\/?utm_source=post&utm_medium=web-story\">\n            \n\n<div class=\"edIm StoryWebimg\"><img loading=\"lazy\" width=\"640\" 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broader cryptocurrency market have come under strong selling pressure with the BTC price losing its support at $71,000 and falling all the way to $68,500. As of press time, the Bitcoin (BTC) price is trading at $69,404.43 with a market cap of $1.37 trillion. Bitcoin Hedge Funds [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":319359,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[188,183,185,186,187,184,189,150,182,190],"class_list":["post-319357","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-technology","tag-blockchain-tech","tag-blockchain-technology","tag-crypto-technology","tag-cryptocurrency-technology","tag-metaverse-technology","tag-nft-technology","tag-soul-bound-token","tag-tech","tag-technology","tag-token-technology"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/319357","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=319357"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/319357\/revisions"}],"predecessor-version":[{"id":319361,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/319357\/revisions\/319361"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/319359"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=319357"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=319357"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=319357"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}