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Peter Davis

An writer at FOMOdrive

  • Sep 30, 2023
  • 3 min read

Bitcoin: Crypto whales on CME resumed pumping up net positions

The Commodity Futures Trading Commission (CFTC) reported, for the week ending last Tuesday, that the Commitments of Traders (COT) reports showed.

After a noticeable decrease, large speculators (NON-COMMERCIAL) increased their net position to purchase Bitcoin contracts by 0.20 thousand, bringing the total to 1.79 thousand. This marks the fourth time in the last six weeks that these speculative players have increased their net position.

For the past 5 weeks out of the last 6, Hedgers (COMMERCIAL) have been steadily increasing their net position for selling Bitcoin contracts, with the latest figure reaching 2.03 thousand, a 0.04 thousand increase from the previous week.

Small speculators have decreased their net position to purchase Bitcoin contracts from 0.16 thousand contracts to 0.24 thousand over the last 13 weeks, with 8 of those weeks showing a decrease. This is the lowest net position since March 7.

The open interest decreased by 1,830 contracts, bringing the total to 14,840.

The ratio of the number of contracts to buy to the number of contracts to sell for the bullish index of large speculators rose by 0.06 to 1.20 over the course of the week.

Data from the Bitcoin Commitment of Traders (COT) report indicates that large speculators are becoming increasingly bullish on the cryptocurrency. Large funds have been reducing their sales and purchases, resulting in a net increase in their position on BTC. If this trend continues, it could be a positive sign for the future of Bitcoin and other digital assets.

Hedgers with a longer-term outlook have slightly increased their net exposure to the potential growth of Bitcoin.

Net position reductions among small speculators on Bitcoin have been resumed, leading to new lows in the past 6 months. Despite the increase in bearish sentiment among smaller traders, this group typically does not have a major effect on the market.


COT reporting data is essential for medium to long term trading. Large speculators, NON-COMMERCIAL (banks, investment funds), usually trade in line with the trend (blue line). Small speculators, NONREPORTABLE POSITIONS, generally do not have a major impact on the market (red line). Hedgers, COMMERCIAL (operators, large companies), usually trade against the trend (black line). The net position is the difference between the number of buy and sell contracts. Open interest is the total of all open positions in the market.

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