Prominent Trader: Closed Bitcoin Short Position, Current Shorting Risk-Reward Ratio Unfavorable

On April 6, Bitget market data shows spot gold has hit $4,700 per ounce, up 0.54% in intraday trading. U.S. stock futures are trading sharply higher in pre-market sessions: Nasdaq futures are up 1%, Dow futures have gained 0.32%, and S&P 500 futures are 0.6% higher.

On April 6th, analyst Alicharts updated several Bitcoin long-term bottom indicators to identify potential Bitcoin bottom levels. Key support levels include: - ~$63,111 near URPD - A 10-year trendline support ranging roughly from $56k to $60k - The CVDD structural bottom at $47,960 - The MVRV 0.8 extreme pain zone at $43,647 Alicharts advised investors to diversify capital into the $36k-$63k range, rather than trying to pinpoint a single bottom. Right now, the market is largely in a wait-and-see or distribution phase—making it a good window to lay the groundwork for a macro rebound.

On April 6th, per Onchain Lens monitoring, crypto whale yeti.hl deposited 2.19 million USDC to HyperLiquid 30 minutes ago and purchased 58,884 HYPE tokens at $37.21 each.

April 6th: Bloomberg Intelligence Senior Commodity Strategist Mike McGlone said Bitcoin could drop to around $10,000—its long-term equilibrium level—if it fails to hold above $75,000. McGlone noted $75,000 is a critical technical and psychological threshold: breaking above it would invalidate his bearish outlook, while failing to do so could extend Bitcoin’s downward trend. He added Bitcoin traded around $10,000 for years before 2020, and that level has been a key trading zone since Bitcoin futures launched in 2017. Additionally, potential stock market turmoil and reduced volatility could push Bitcoin to post its first consecutive annual decline by 2026, he said—“This may be a harbinger of future trends.” His comments drew criticism from Bitcoin supporters, who dismissed the predictions as unrealistic and questioned the accuracy of his past extreme calls. In 2018, McGlone forecast Bitcoin would fall to $1,100; its actual low that year was $3,000. Between 2023 and 2025, he repeate

On April 6, the Bank of Japan (BOJ) sent subtle signals in its two quarterly regional economic reports, avoiding stoking market expectations of a rate hike this month. Separately, in a news release summarizing branch managers’ views, the BOJ noted that amid rising uncertainty, concerns are growing over price increases—especially energy hikes—and their drag on corporate profits and private consumption. This suggests the BOJ is reluctant to commit to a rate hike with its next policy decision (April 28) just weeks away. Overnight indexed swap (OIS) pricing as of Monday showed traders see a roughly 66% chance of a hike this month, with the Iran conflict threatening to amplify inflation risks in Japan, where inflation is already elevated. The BOJ also noted that many reports show businesses are still passing on cost hikes (including labor and logistics costs) to selling prices. At the same time, firms are addressing consumer “inflation fatigue” by capping price increase sizes and e

April 6th (Wednesday) — Oil prices dropped sharply amid expectations of a U.S.-Iran deal expected to be finalized the same day, sources said. Market data from Bitget shows Brent crude was last trading at $107.54 per barrel, while WTI crude stood at $108.8 per barrel, with both down 3.51% intraday.