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Big players wind down positions in bitcoin futures on CBOE

The week that ended on July 24, saw a decrease in the number of open contracts for bitcoin futures on the CBOE from 5,122 to 4,741, according to a report filed by the Commodity Futures Trading Commission (CFTC).

The net short position held by the big players recovered from 1,640 to 1,751 contracts. Long positions have decreased from 2,495 to 2,226 contracts, and the short positions went down from 4,135 to 3,977. The net short position held by the institutional investors decreased from 112 to 100 contracts.

As for the smaller players, their net long position over the week has recovered from 1,640 to 1,651 contracts. Long positions have decreased from 2,289 to 2,173 contracts. Short positions decreased from 649 to 522 contracts.

By the big players, we mean the participants obliged to submit regular reports to the the commission, including brokers, externally financed investment funds, and others.

The figures above do not take into account the positions that are part of the 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 remembered 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 24, 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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