Bitcoin Futures COT Sentiment
Bitcoin Non-Commercial Speculator Positions:
Large cryptocurrency speculators raised 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 -1,472 contracts in the data reported through Tuesday August 28th. This was a weekly decrease of -206 contracts from the previous week which had a total of -1,266 net contracts.
Speculative bearish bets rose for the first time in three weeks after last week falling to the lowest bearish level since Bitcoin futures trading and data releases began in December 2017.
The small trader position, meanwhile, raised their existing bullish positions this week by an equally offsetting 206 contracts to a current bullish level of 1,472 net contracts.
Bitcoin Futures COT Data: Speculators vs Small Traders
The Bitcoin futures data is in its thirty-seventh week since the beginning of the cryptocurrency futures data releases on December 19th 2017. The data includes trader classifications of only speculators and small traders and without commercial traders (typically business hedgers or producers of a commodity).
Speculators started off and have continued to be on the bearish side of this market while the small traders have remained on the bullish side since the beginning of the bitcoin data releases.
Bitcoin per USD:
Over the same weekly reporting time-frame, from Tuesday to Tuesday, the Bitcoin Cryptocurrency Futures closed at approximately $7067.14 which was an increase of $603.02 from the previous close of $6464.12, according to unofficial market data.