Bitcoin Non-Commercial Speculator Positions:
Large cryptocurrency speculators trimmed their bearish net positions in the Bitcoin futures markets for a second straight week 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 -1,597 contracts in the data reported through Tuesday May 1st. This was a weekly rise of 232 contracts from the previous week which had a total of -1,829 net contracts.
Small traders, meanwhile, reduced their existing bullish positions this week by an equally offsetting -232 contracts to the current level of 1,597 net contracts.
The large speculator position is now at the lowest bearish level since March 27th when net positions totaled -1,490 contracts.
Bitcoin Futures COT Data: Speculators vs Small Traders
The Bitcoin futures data is in its twentieth week since the start of the cryptocurrency futures data 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 remain on the bearish side as they have since the beginning of the bitcoin data releases while the small traders continue to be 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 $9074.41 which was a loss of $-395.29 from the previous close of $9469.7, according to unofficial market data.