Bitcoin whales add longs as shorts rise—$66K support key for squeeze risk

Bitcoin shows mixed short-term signals. Whale positioning on Bitfinex appears bullish over the longer term, while a late cluster of shorts is rising and could trigger a squeeze. On a 3-day BTCUSD chart shared by X user CW8900, Bitfinex whales increased longs after a mid-2025 drop, pushing toward highs near 79,266. At the same time, BTCUSD shorts also climbed, but with more volatility and less consistency than longs. Price is trading around $66,699 on the 3-day view, well below earlier cycle peaks. The analysis suggests whales may be hedging for near-term weakness while still accumulating for a later rebound. A second chart from X user Ted Pillows focuses on the $66,000 level. On a 1-hour Binance Futures BTCUSDT chart, Bitcoin stabilized after falling from above $71,000 into the mid-$66,000s. During that decline, aggregated open interest rose sharply, indicating many traders opened new short positions. Pillows warns these late shorts may be trapped. If Bitcoin holds above the $66,000 support zone, forced short covering could add buying pressure and lift price. However, if $66,000 fails, the trapped-short thesis weakens and downside pressure could return. For traders, $66K is the immediate trigger level to watch, with whale flows and open interest dynamics both pointing to squeeze potential.