Bitcoin Futures Non-Commercial Speculator Positions:
Large cryptocurrency speculators reduced 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 -1,608 contracts in the data reported through Tuesday February 20th. This was a weekly lift of 267 contracts from the previous week which had a total of -1,875 net contracts.
Small traders, meanwhile, trimmed their existing bullish positions for a third straight week by an offsetting -267 contracts this week to an overall current level at 1,608 net contracts.
Bitcoin Futures COT Data: Specs vs Smalls
The Bitcoin futures data has reached its tenth 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 continued to be on the bearish side from the start while the small traders have been on the bullish side.
Bitcoin per USD:
Over the same weekly reporting time-frame, from Tuesday to Tuesday, the Bitcoin Cryptocurrency Futures closed at approximately $11,429.0 which was an advance of $2,889.29 from the previous close of $8,539.71, according to unofficial market data.