Bitcoin News, Business, Cryptocurrency News, Legal, Market Analysis, Top Stories

CME’ Net Institutional Investment In Bitcoin [BTC] Futures Has Dropped – CFTC Analysis.

In line with a recent official ‘announcement‘ by the U.S. CFTC [Commodity Futures Trading Commission], the net institutional investment in the Bitcoin [BTC] futures on the CME [Chicago Mercantile Exchange] has dropped this past week.

The ‘data‘ published reveals that as of 9th April, the institutional investors & asset managers had around 244 open long positions, a sudden drop of about 71 from 2nd April, and 80 open short positions, less than 9 just a week earlier. Also, the data shows solely three open spreading positions for institutional investors, 32 less than the earlier week.

In line with 9th April’s data, the quantity of short positions among institutional investors had therefore dropped around 11%. However on the another hand, the Long positions has decreased by almost around 30% over the same period of time, citing a slight bear sentiment within the investors. 

Moreover, while particularly among the institutional investors on CME there are alot more long than short open positions, the quantity of open short positions prevails within the overall total ‘open positions count‘ for the asset. There are about 3,267 open long positions on the Bitcoin [BTC] futures contracts provided on the CME exchange, and 4,177 open short positions.

The earlier week from 2nd April 9th April, total short positions exaggerated by 421, whereas long positions saw a rather smaller hike of 366.

Earlier, renowned cryptocurrency media outlet namely Bitcoinist’ reported that the quantity of opened long positions for CME Bitcoin futures contracts by institutional investors & asset managers had spiked throughout the previous week.

More exactly, there had supposedly been an around 88% hike within the institutional long positions compared to the previous week, with 315 long contracts opened by 2nd April. The publication additionally reported that the net quantity of short positions reported about 63% drop, to 89 contracts from 241.

As reported last week, CME added that its Bitcoin futures saw new record breaking trading volumes on 4th April, simply after the price of the leading cryptocurrency Bitcoin surged to multi-month highs. Bitcoin [BTC] is presently trading around $5,100 USD seeing almost no alternations on the day as well as the week.

As ‘reported‘ by EtherDesk just yesterday, renowned Bitcoin [BTC] visionary and Fundstrat Global Advisors co-founder ‘Thomas Lee’, revealed that the Bitcoin Misery Index ‘BMI’ hit its highest figure since June 2016 which could be a both good or a bad sign. As per Lee, the very fact that Bitcoin has reported its highest reading since June 2016 kind-off presently offers mixed signals. He predicted 2 possibilities of the index, ‘adding‘ that:

“Good–> Since 2011, BMI >67 solely seen during $BTC bullish markets. Alot more evidence bull beginning. Bad –> [BMI] >67 after the peak, $BTC falls ~25% = Profit taking ST.”

Leave a Comment

Your email address will not be published.