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Big players wind down positions in bitcoin futures on CBOE

Over the week ending August 21, the number of open contracts for bitcoin futures on the CBOE recovered from 4,548 to 4,069 according to a report filed by the Commodity Futures Trading Commission (CFTC).

The net short position held by the big players decreased from 1,578 to 1,339 contracts. Long positions recovered from 2,056 to 2,087 contracts, short positions recovered from 3,636 to 3,426. The net long position held by the institutional investors are 73 contracts.

As for the small players, their net long position over the week recovered from 1,532 to 1,266 contracts. Long positions recovered from 2,249 to 1,789 contracts. Short positions recovered from 717 to 523 contracts.

By the big 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, 2017, followed by the CME Group on December 18, 2017.

When assessing the difference in short and long positions of big 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 August 21, 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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