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Big players reduce positions in bitcoin futures on CBOE

Over the week ending April 24, the number of open contracts for bitcoin futures on the CBOE decreased from 6,433 to 5,753, according to the report filed by the Commodity Futures Trading Commission (CFTC).

The net short position held by the bigger players went down from 2,226 to 1,911 contracts over the period, whereas long positions increased from 3,066 to 3,111 contracts, and short positions declined from 5,292 to 5,022 contracts. The net long position held by the institutional investors decreased from 343 to 82 contracts.

As for the smaller players, their net long position over the week decreased from 1,883 to 1,829 contracts, as both long and short positions declined, from 2,719 to 2,488 contracts and from 836 to 619 contracts, respectively.

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.

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.

The figures reflected in the text are based on the data from the report filed by the Commodity Futures Trading Commission (CFTC) published on April 24, 2018. The information in this text is provided to you for informational purposes only and should not be regarded as an offer or solicitation of an offer to buy or sell any investments or related services that may be referenced here. Please be aware that short selling strategy implies high risks.

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