The market lacks a clear unilateral tendency, price fluctuations dominate the idea of ​​position adjustment | CFTC COT Bitcoin Holding Weekly Report

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On September 26, the CFTC announced the latest CME Bitcoin Futures Weekly Report (September 16-September 22). During the statistical period, the BTC price plunged sharply after the stage sideways, and the market was at the end of the statistical period. A wave of sharp drops and diving caused the gains of the past week or so to be quickly taken back, and the market’s optimism was significantly impacted. The results presented in the current position holding weekly report are also the response performance of various accounts after the emergence of this slightly extreme market.

The total number of positions (total number of open positions) in the latest data has dropped from a historical high of 9383 to 8426, which almost gave up all the gains in the previous statistical cycle. The rapid price correction in the short-term has a very obvious impact on market popularity. .

In terms of sub-data, the large-scale brokers’ long positions fell sharply from 717 to 285, and 12 short positions remained unchanged. Large institutions have adjusted their positions quite drastically in the last period of time. It has become a norm to continuously reduce positions by more than 60% or increase positions by more than twice. In the last statistical period, a large number of orders have been increased. Under the circumstance of holding, the gains in the latest statistical cycle have basically been taken back in full. The response of institutions to this deep correction is quite obvious, or it may show that large institutions also lack a particularly clear one-way thinking in the recent sideways phase.

The market lacks a clear unilateral tendency, price fluctuations dominate the idea of ​​position adjustment | CFTC COT weekly report on Bitcoin holdings
The market lacks a clear unilateral tendency, price fluctuations dominate the idea of ​​position adjustment | CFTC COT weekly report on Bitcoin holdings

In the latest statistical cycle, the long position of leveraged fund accounts dropped from 2,819 to 2,280, and the short position fell from 5,224 to 4,480. Although leveraged funds still carried out simultaneous long-short two-way adjustments in the latest statistical cycle, this The two-way position reduction of the period data is significantly more significant than the increase in the last statistical period. It can be seen that the sharp drop at the end of the last statistical period also triggered the risk control operation of leveraged funds.

The market lacks a clear unilateral tendency, price fluctuations dominate the idea of ​​position adjustment | CFTC COT weekly report on Bitcoin holdings
The market lacks a clear unilateral tendency, price fluctuations dominate the idea of ​​position adjustment | CFTC COT weekly report on Bitcoin holdings

In terms of large positions, long positions further dropped from 1,653 to 1,580, and short positions dropped from 2,766 to 2,062. After the clear net air-conditioning position of the large accounts in the last statistical period has passed, they continue to reduce their long positions in the latest statistical period. Although the short positions have been reduced more significantly, this type of account has remained unchanged in the past period of time. There has been no obvious change in the short-side attitude. In the latest statistical cycle, a large number of short orders have been reduced to a certain extent by taking advantage of the rapid market correction to reduce profits. At present, the advantage of short-side net positions is still obvious.

The market lacks a clear unilateral tendency, price fluctuations dominate the idea of ​​position adjustment | CFTC COT weekly report on Bitcoin holdings
The market lacks a clear unilateral tendency, price fluctuations dominate the idea of ​​position adjustment | CFTC COT weekly report on Bitcoin holdings

In terms of retail holdings, long positions fell from 3415 to 3006, and short positions fell from 602 to 597. Although retail investors have simultaneously reduced their holdings in both long and short directions in the latest statistical cycle, the magnitude of the reduction in long and short holdings is significantly more impressive. As the type of account whose mentality is most susceptible to market fluctuations, a sharp drop at the end of the latest statistical cycle It is not surprising that diving-led retail investors have carried out a substantial reduction in multiple orders.

The market lacks a clear unilateral tendency, price fluctuations dominate the idea of ​​position adjustment | CFTC COT weekly report on Bitcoin holdings
The market lacks a clear unilateral tendency, price fluctuations dominate the idea of ​​position adjustment | CFTC COT weekly report on Bitcoin holdings

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