Bitcoin Non-Commercial Speculator Positions:
Large crypto speculators raised 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 -1,833 contracts in the data reported through Tuesday February 27th. This was a weekly fall of -225 contracts from the previous week which had a total of -1,608 net contracts.
Speculative positions had trimmed their bearish bets for the previous three weeks before this week’s slight turnaround.
Small traders, meanwhile, increased their existing bullish positions by an equally offsetting 225 contracts this week to an overall current level at 1,833 net contracts.
Bitcoin Futures COT Data: Specs vs Smalls
The Bitcoin futures data has reached its eleventh 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 have been on the bearish side from the start 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 $10,741.0 which was a shortfall of $-688.0 from the previous close of $11,429.0, according to unofficial market data.