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Big players reduce positions in bitcoin futures on CBOE

Over the week ending May 15, the number of open contracts for bitcoin futures on the CBOE decreased from 6,295 to 6,048, according to a new report filed by the Commodity Futures Trading Commission (CFTC).

The net short position held by the bigger players went up from 1,801 to 2,009 contracts over the period, as both long and short positions declined, from 3,465 to 3,017 contracts and from 5,266 to 5,026 contracts, respectively. The net long position held by the institutional investors was down from 166 to 107 contracts.

As for the smaller players, their net long position over the week increased from 1,635 to 1,874 contracts, whereas long positions went up from 2,308 to 2,536 contracts while short positions declined from 673 to 622 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.

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 May 15, 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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