Hedge Funds Shorting $1.4 Billion Bitcoin

bitcoin futures longs shorts jan 26 2021

The latest data from the Chicago Mercantile Exchange (CME) reveals that hedge funds are twice more short than long on bitcoin futures. There were 7,991 shorts contracts by hedge funds as of this Tuesday according to the Commodities Futures Exchanges Commission (CFTC) which finalized the data on Friday. Each contract is worth the equivalent of five bitcoins, meaning they are shorting 39,955 bitcoin worth $1.37 billion. In contrast these leveraged funds, which are generally hedge funds, are long only 3,605 contracts, worth $600 million. A considerable gap seems to have opened between hedge funds longs and short since late October. And while both have fallen slightly, longs have fallen a lot more proportionally from 5,400 contracts in November 24th to 3,600, while shorts are down from 9,800 to about 8,000. So increasing that gap. It’s not clear whether this is reflected more widely, but bitcoin has been falling last month,…

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