Over the week ending March 27, the number of open contracts for bitcoin futures (Bitcoin: BITCOIN) on the CBOE raised from 6,261 to 6,322, according to the report filed by the Commodity Futures Trading Commission (CFTC).
The net short position held by the bigger players went up from 1,370 to 1,490 contracts over the period, as both long and short positions increased, from 3,818 to 3,843 contracts and from 5,188 to 5,333 contracts, respectively. The net long position held by the institutional investors is up from 220 to 289 contracts.
As for the smaller players, their net long position over the week also increased from 1,370 to 1,490 contracts, whereas long positions were up from 2,323 to 2,350 contracts, and short positions declined from 953 to 860 contracts.
By the bigger players, we here mean the participants obliged to submit regular reports to the commission, including brokers, externally financed investment funds, and others.
The figures above do not take into account the positions that are part of spread trading strategies, where traders open both short and long positions simultaneously.
The CBOE began trading bitcoin futures on December 10, followed by the CME Group on December 18. However, the CME Group data are still not reflected in the weekly CFTC report.
When assessing the difference in short and long positions of large and small players, it should be borne in mind that a short position in the bitcoin futures market does not necessarily mean that the trader’s forecast for the price of the underlying asset is negative.