Bitcoin Non-Commercial Speculator Positions: Large cryptocurrency speculators very slightly added to 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 -1,651 contracts in the data reported through Tuesday July 24th.
This was a weekly fall of -11 contracts from the previous week which had a total of -1,640 net contracts. Speculative bearish contracts rose for a second week this week to a new most bearish level since June 12th when the net positions totaled -1,945 contracts.
Small traders, meanwhile, increased their existing bullish positions this week by an equally offsetting 11 contracts to the current bullish level of 1,651 net contracts. Bitcoin Futures COT Data: Speculators vs Small Traders The Bitcoin futures data is in its thirty-second week since the beginning of the cryptocurrency futures data releases 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 continue to be on the bearish side of this market while the small traders have been on the bullish side since the start of the bitcoin data releases.
Over the same weekly reporting time-frame, from Tuesday to Tuesday, the Bitcoin Cryptocurrency Futures closed at approximately $8257.64 which was an advance of $899.29 from the previous close of $7358.35, according to unofficial market data. We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. Read more from investing.com…
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