In the latest cryptocurrency news, it turns out that there is a significant decline in the overall institutional investment in BTC futures on the CME (Chicago Mercantile Exchange). This is according to data courtesy of the U.S. Commodity Futures Trading Commission or CFTC.
Open Long Positions vs. Open Short Positions
The aforementioned data suggests that asset managers and institutional investors had decided to open at least 244 open long positions. Apparently, it is a decrease of around 71. In addition, there are about 80 open short positions, which is also nine less when compared a week before.
The data from CFTC also shows that there are at least three open spreading positions, all of which are meant for institutional investors. And pretty much like the above-mentioned numbers, this one right here is 32 less than the same week.
As of the data from April 9, the overall number of short positions among institutional investors has significantly spiraled down to a mere 11 percent. As far as long positions are concerned, they also declined to nearly 30 percent over the exact same period. This ultimately suggests a little bit of bearish sentiment among these investors.
While it is true that among all CME institutional investors appear to have short open positions, the number of open ones tend to prevail when it comes to the overall total open positions account for the asset. Basically, the open long positions have reached a number of 3,267 on the Bitcoin futures contracts offered on the said exchange. As for open short positions, they reportedly reached around 4,177.
Records From Previous Week
In a previous report, the total number of opened long positions specifically meant for CME BTC futures contracts had increased during the previous week. It is worth noting that, as mentioned above, these were contracts courtesy of asset managers and institutional investors.
Even more precisely, there had been an increase of 88 percent when talking about institutional long positions. This can be achieved when the numbers are compared to the previous week data. It also suggests a total of 315 long contracts, all of which have been opened by April 2. The same report further stated that from 241 contracts, the number went to 89. This is basically a decrease of about 63 percent.
CME revealed in another report that its BTC futures experienced record trading volumes back on April 4. This happened just after the price of the world’s leading digital currency surged to multi-month highs.