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Big players wind down positions in bitcoin futures on CBOE

Over the week ending July 17, the number of open contracts for bitcoin futures on the CBOE decreased from 5,225 to 5,122, according to a report filed by the Commodity Futures Trading Commission (CFTC).

The net short position held by the bigger players decreased from 1,655 to 1,640 contracts. Long positions have recovered from 2,466 to 2,495 contracts, short positions – from 4,121 to 4,135. The net short position held by the institutional investors decreased from 158 to 112 contracts.

As for the smaller players, their net long position over the week has recovered from 1,455 to 1,640 contracts. Long positions have recovered from 2,254 to 2,289 contracts. Short positions decreased from 799 to 649 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 July 17, 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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