After the crash, the word “stable” took the lead in institutions, and retail investors became the main force for chasing short positions | CFTC COT Weekly Bitcoin Holding Report

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On September 12, the CFTC announced the latest CME Bitcoin Futures Weekly Report (September 2-September 8). During the statistical period, BTC plunged sharply. After a sharp drop of more than $2,000, it ushered in a temporary Stabilized, but did not rebound quickly to regain lost ground. Instead, it has remained relatively low and horizontally fluctuated after a sharp drop at the beginning of the statistical cycle. Therefore, this week’s report shows the countermeasures of various accounts after the market fell. Especially for those accounts that underwent a large number of overweight orders in the previous statistical cycle, the current position adjustment performance is more worthy of attention.

The total number of positions (total open positions) in the latest data has dropped sharply from a historical high of 11,617 to 8,198, a record low since July 7. The sharp drop in the market has produced a very obvious impact on market sentiment. As a result, various accounts have generally lightened their positions (risk control) in the latest statistical cycle.

In terms of sub-data, the large-scale brokers’ long positions fell sharply from 745 to 256, and short positions fell from 182 to 35 simultaneously. Large institutions performed a considerable increase in long positions in the last statistical cycle. As the market fell out of the market, large institutions quickly (stop losses) reduced their long positions in the latest statistical cycle, and their long positions were directly reduced to August 11 Since the new low, this type of account has also undergone a considerable reduction in short holdings. After the market has changed, large institutions have also entered a stage of conservative wait-and-see in the short term.

After the crash, the word "stable" took the lead in institutions, and retail investors became the main force for chasing short positions | CFTC COT Weekly Bitcoin Holding Report
After the crash, the word "stable" took the lead in institutions, and retail investors became the main force for chasing short positions | CFTC COT Weekly Bitcoin Holding Report

In the latest statistical cycle, the long position of leveraged fund accounts dropped from 4,271 to 2,758, which reached a new low in nearly five months since April 28, and the short position fell from 6,842 to 4,661, which was also a record. It was the lowest since the week of May 5. In the last statistical cycle, the only leveraged fund that made precise net air-conditioning positions has carried out a large number of profit reductions in the latest statistical cycle, and has also made corresponding risk control adjustments. The two-way simultaneous sharp reduction of positions means that this type of account is the next step for the market outlook. Trends also temporarily lack clear judgment.

After the crash, the word "stable" took the lead in institutions, and retail investors became the main force for chasing short positions | CFTC COT Weekly Bitcoin Holding Report
After the crash, the word "stable" took the lead in institutions, and retail investors became the main force for chasing short positions | CFTC COT Weekly Bitcoin Holding Report

In terms of large holdings, long positions fell from 1947 to 1729, and short positions rebounded from 1775 to 2028. Large accounts have undergone a clear processing of net air-conditioning positions in the latest statistical cycle, which means that such accounts still hold a clear pessimistic attitude towards the market outlook after such a sharp decline in the market, especially the net-idle net long realized just last week. After that, it was not maintained, and the net position of the current period was returned to the net position again. At least from the results, this type of account is more clear than the above two types of institutions’ continued bearish attitude.

After the crash, the word "stable" took the lead in institutions, and retail investors became the main force for chasing short positions | CFTC COT Weekly Bitcoin Holding Report
After the crash, the word "stable" took the lead in institutions, and retail investors became the main force for chasing short positions | CFTC COT Weekly Bitcoin Holding Report

In terms of retail positions, long positions further dropped from 2,815 to 2,724, and short positions rebounded slightly from 439 to 514. Consistent with the adjustment direction of large accounts, retail investors once again carried out net air-conditioning positions following the market direction after the sharp decline in the market. However, in the latest statistical cycle, the adjustment range of long and short positions of such accounts is very limited, which is to a certain extent. The above shows that the retail investors are relatively confused when the unilateral fast market appears, because there is not enough time to make adjustments in the first time, and the follow-up adjustment of the retail investors will be more hesitant after the severe unilateral market goes out.

After the crash, the word "stable" took the lead in institutions, and retail investors became the main force for chasing short positions | CFTC COT Weekly Bitcoin Holding Report
After the crash, the word "stable" took the lead in institutions, and retail investors became the main force for chasing short positions | CFTC COT Weekly Bitcoin Holding Report

Extended reading: What is the CFTC position report? What’s the value? How to interpret it?