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Gate Research: Bitcoin Short Positions Surge to Multi-Year Highs, The UAE Announces Exit from OPEC and OPEC+

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Altcoins
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VIP Daily Industry Report
2026-04-29 03:55:32
Reading Time: 3m
Last Updated 2026-04-29 04:02:45
Over the past 24 hours, Bitcoin first pulled back before recovering, remaining more than 4.6% below Monday’s 12-week high of $79,488. Ethereum continued to underperform BTC, with the short-term structure still reflecting a weak rebound. Realis, Tectum, and SkyAI emerged as leading gainers in the latest market rebound. RLS surged nearly 120% in a single day following news of a global distribution partnership and a new token buyback-and-burn program. The United Arab Emirates announced its formal withdrawal from OPEC and OPEC+ effective May 1, marking a major historical split within the alliance. Meanwhile, BitMine added 107,992 staked Ethereum, while an exchange-linked whale increased its ETH long position to 63,000 ETH. In April, short sellers paid funding rates of around 11% to maintain bearish positions, with rates briefly surging to 19% — the highest level since early 2023.
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