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Big players cut short positions on bitcoin

Over the week ending December 26, the number of open contracts for bitcoin futures on the CBOE rose from 2,821 to 3,737, according to the report of the Commodity Futures Trading Commission (CFTC).

A total of 34 traders took part in the trading process, some of them being brokers representing their clients.

The net short position of the bigger players, including brokers, funds with external financing, and others who are obliged to submit regular reports to the commission, decreased almost twofold in a week, from 1371 to 701 contracts (the volume of long positions increased from 828 to 2332 contracts, while the volume of short positions is up from 2,199 to 3,033 contracts).

The net long position of the smaller players increased from 1371 to 1801 contracts (long positions are up from 1857 to 2388 contracts, short positions are up from 486 to 587 contracts).

The CME Group, which trades bitcoin futures since December 18, is still not reflected in the weekly CFTC report, however, according to the exchange itself, the number of open contracts exceeded 800 by the end of the week.

The trading volume of one contract is one bitcoin on CBOE and 5 bitcoins on CME.

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