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Big players reduce positions in bitcoin futures on CBOE

Over the week ending May 22, the number of open contracts for bitcoin futures on the CBOE saw a sharp drop from 6,048 to 5,368, according to the report filed by the Commodity Futures Trading Commission (CFTC).

The net short position held by the bigger players decreased from 2,009 to 1,659 contracts over the period, as both long and short positions declined, from 3,017 to 2,840 contracts and from 5,026 to 4,499 contracts, respectively. The net long position held by the institutional investors was down from 107 to 27 contracts.

As for the smaller players, their net long position over the week fell from 1,874 to 1,659 contracts. Yet again, both long and short positions declined, from 2,536 to 2,255 contracts and from 662 to 596 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 May 22, 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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