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Big players increase positions in bitcoin futures on CBOE

Over the week ending May 29, the number of open contracts for bitcoin futures on the CBOE rebounded slightly, raising from 5,368 to 5,480, according to the report filed by the Commodity Futures Trading Commission (CFTC).

The net short position held by the bigger players increased to 1,829 from 1,659 contracts over the period, whereas long positions declined from 2,840 to 2,787 while short positions went up from 4,499 to 4,616 contracts. The net long position held by the institutional investors increased from 27 to 110 contracts.

As for the smaller players, their net long positions over the week were up from 1,659 to 1,679 contracts as both long and short positions increased, from 2,255 to 2,350 contracts and from 596 to 671 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 29, 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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