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CME Bitcoin futures positioning diverges as leveraged funds go shorter

CFTC-linked data for the week to Sept. 22 showed open interest rising to 22,315 contracts as leveraged funds increased net short exposure while asset managers expanded net long positions.

Reported · Written up by our desk · Bitcoin

Leveraged funds increased bearish exposure in standard CME Bitcoin futures during the week ended Sept. 22, moving 1,599 contracts further net short as their prior week's easing reversed, according to a CryptoSlate analysis of the latest CFTC futures snapshot.

At the same time, asset managers added 411 contracts to their net long, leaving them net long 3,171 contracts, after holding 4,962 longs and 1,791 shorts as of Tuesday.

For leveraged funds, the report showed 4,745 long contracts versus 12,698 short contracts, resulting in a net short of 7,953 versus 6,354 a week earlier, with longs falling by 800 contracts and shorts rising by 799.

CryptoSlate said the futures change equaled about 7,995 BTC-equivalent of net exposure, and noted open interest across the standard CME contract rose by 1,542 contracts to 22,315 as of Sept. 22, while the snapshot does not show any corresponding spot or ETF hedge legs.

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