Bitcoin is showing signs of a potential rebound as CME futures positioning turns bullish, a pattern that has historically preceded significant recoveries. Non-commercial traders have shifted from net short to net long positions, echoing a similar move in April 2025 that led to a 70% price increase. Currently, Bitcoin is defending the 200-week exponential moving average (EMA) at approximately $68,350, a critical support level that has historically marked the end of major drawdowns. The CFTC Commitment of Traders report highlights this shift in speculative positioning, suggesting a possible ascent towards $85,000 if bullish momentum continues. Analysts note that while the setup is promising, it remains a condition rather than a guarantee, with potential downside risks if macroeconomic factors or market momentum falter. Observers are closely watching for confirmation signals, including a break above the 100-week EMA and improvements in the RSI, to validate a sustained recovery.