Bitcoin Non-Commercial Speculator Positions:
Large speculators increased their overall 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 -1,716 contracts in the data reported through Tuesday March 13th. This was a weekly reduction of -117 contracts from the previous week which had a total of -1,599 net contracts.
Speculative bitcoin positions, despite this week’s decline, have seen improvements in four out of the past six weeks with bearish bets under the -1,800 contract level for two straight weeks.
Small traders, meanwhile, raised their existing bullish positions by an equally offsetting 117 contracts this week to a current level of 1,716 net contracts.
Bitcoin Futures COT Data: Specs vs Smalls
The Bitcoin futures data is now in its thirteenth week going back to the start of futures reporting 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 began and have remained on the bearish side from since the beginning while the small traders have been 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 $9157.51 which was a shortfall of $-1606.49 from the previous close of $10764.0, according to unofficial market data.
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