Bitcoin Non-Commercial Speculator Positions:
Large cryptocurrency speculators trimmed their bearish net positions in the Bitcoin futures markets this week, according to the latest Commitment of Traders (COT) data released by the Commodity Futures Trading Commission (CFTC) on Friday.
The non-commercial futures contracts of Bitcoin futures, traded by large speculators and hedge funds, totaled a net position of -1,829 contracts in the data reported through Tuesday April 24th. This was a weekly lift of 54 contracts from the previous week which had a total of -1,883 net contracts.
Small traders, meanwhile, cut back on their existing bullish positions this week by an offsetting -54 contracts to a current level of 1,829 net contracts.
Bitcoin Futures COT Data: Speculators vs Small Traders
The Bitcoin futures data is in its nineteenth week since the start of the cryptocurrency futures data on December 19th. The data includes trader classifications of only speculators and small traders and without commercial traders (typically business hedgers or producers of a commodity).
Speculators have maintained a position on the bearish side from the beginning of the bitcoin data releases while the small traders have remained on the bullish side of this market.
Bitcoin per USD:
Over the same weekly reporting time-frame, from Tuesday to Tuesday, the Bitcoin Cryptocurrency Futures closed at approximately $9469.7 which was a rise of $1558.31 from the previous close of $7911.39, according to unofficial market data.
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