Bitcoin Non-Commercial Speculator Positions:
Large crypto speculators cut back on their bearish net positions in the Bitcoin Futures CBOE 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 -1,599 contracts in the data reported through Tuesday March 6th. This was a weekly gain of 234 contracts from the previous week which had a total of -1,833 net contracts.
Speculative bitcoin positions have now improved for the fourth time out of the past five weeks. The current standing is the least bearish level for speculators since the start of bitcoin futures trading in December.
Small traders, meanwhile, decreased their existing bullish positions by an equally offsetting -234 contracts this week to a current level of 1,599 net contracts.
Bitcoin Futures COT Data: Specs vs Smalls
The Bitcoin futures data is now in its twelfth 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 since the beginning 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 $10,764.0 which was a boost of $23.0 from the previous close of $10,741.0, according to unofficial market data.