Affected by the U.S. Veterans Day holiday last week, the latest issue of the CFTC CME Bitcoin Futures Weekly (November 4th-November 10th) was postponed to this Monday. During the statistical period, BTC once again achieved a single week of over $1,000. Rising, although the market has a callback after a sharp rise, the rebound at the end of the statistical cycle has allowed all the gains in the stage to be retained. The market’s strength in the past few weeks is still continuing, and the current weekly position report reflects this. In the strong trend, there is a response to various accounts after the surge.
The number of total positions (total open positions) rebounded slightly from 11,278 to 11,311 in the latest data. This value has returned to the previous four consecutive weeks that had just been interrupted in the previous statistical cycle. The continued rise in the market has protected the market. Even though some types of accounts have been dealt with by profit reduction or risk control reduction, there is still no sign of the market’s macro heat abating.
In terms of sub-data, large-scale brokers have long positions increased from 800 to 832, and short positions have risen from 0 to 7, which is also a full month after the broker’s account has no short positions for four consecutive weeks For the first time, a small-scale short position blessing was carried out, and the four-week historical record of continuous short positions and zero positions has not been broken. However, compared with the extent of short orders, large institutions’ long orders in the latest statistical cycle are obviously more significant. Therefore, such accounts continue to maintain a clear bullish attitude, and since the end of the previous statistical cycle, several Judging from the market performance on the trading day, the broker’s “confidence” is correct.
In the latest statistical cycle, the long position of leveraged fund accounts rose from 4,379 to 5,097, and the short position dropped from 8007 to 7881. In the latest statistical cycle, leveraged funds conducted a long-lost clear one-way adjustment of positions, and the continued rise in the market finally “Persuade” this type of account has carried out a clear net long position adjustment. After the end of this period, the current long position account of the most active type of account on the CME platform has reached a new high level in nearly two and a half months. The number of single positions is still dominant, but judging from the results of relative position adjustments, the current leveraged funds have also expressed a continued bullish attitude towards the market outlook.
In terms of large holdings, long positions further dropped from 2539 contracts to 2250 contracts, and short positions decreased simultaneously from 2030 contracts to 1803 contracts. Different from the firm bullish attitude of the above two types of accounts, large accounts have been simultaneously reduced in both long and short positions in the latest statistical cycle, and the reduction in long positions is greater than the reduction in short positions. This type of account is adjusted Shows a relatively conservative thinking. And to a certain extent, this adjustment is also a manifestation of lack of judgment on the market outlook.
In terms of retail positions, long positions dropped from 3405 to 2839, and short positions rebounded from 425 to 595. The retail accounts unexpectedly carried out a clear unilateral air-conditioning warehouse under the condition that the market continued to strengthen. This is the first time this type of account has such a net air-conditioning warehouse performance after 9 weeks, but it is worth mentioning that the last time The clear net air-conditioning positions in retail accounts are due to the sharp decline in Bitcoin during the statistical period. Therefore, such adjustment of positions by retail investors in an environment where the market is steadily rising is a kind of aggressive trial to some extent. This time, retail investors are on the “opposite” of the institution, but the institution has become a homeopath.
Extended reading: What is the CFTC position report? What’s the value? How to interpret it?
