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Big players increase positions in bitcoin futures on CBOE

Over the week ending June 26, the number of open contracts for bitcoin futures on the CBOE increased from 5,365 to 5,797, according to a report filed by the Commodity Futures Trading Commission (CFTC).

The net short position held by the bigger players is being down from 1,807 to 1,758 contracts, while both their long and short positions increased over the period, from 2,855 to 3,001 contracts and from 4,662 to 4,759 contracts, respectively. Meanwhile, the net short position held by the institutional investors fell sharply from 212 to 92 contracts.

As for the smaller players, their net long position over the week decreased from 1,595 to 1,368 contracts. Yet again, this was due to an increase in both long and short positions, from 2,214 to 2,347 contracts, and from 619 to 979 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 June 26, 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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