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On February 8 this year, the Ethereum futures contract launched by the Chicago Mercantile Exchange (CME) officially began trading, the contract code is ETH. This is a futures contract settled in US dollars based on the CME Group CF Ethereum Reference Exchange Rate (BRR). The trading hours are from 17:00 Central Time (CT) every Sunday to 16:00 Friday. According to the contract details published on the CME Group website, the value of an Ethereum futures contract is 50 times the Ethereum-U.S. dollar reference exchange rate index (ETHUSD_RR), and the unit of quotation is U.S. dollar/Ethereum. Ethereum futures have five trading days a week, except that the market will be closed for 1 hour between 16:00-17:00 Central Time on each trading day, and trading can be carried out at other times.
The CFTC holding weekly report refers to the Commodity Futures Trading Commission (Commodity Futures Trading Commission, or CFTC) every Friday at 15:30 local time, that is, Beijing time every Saturday at 3:30 (daylight saving time) or 4:30 (winter time). Time) Position data that is routinely announced. The report reflects the position of the futures exchange as of the close of trading on Tuesday of the week. Two months after the product was officially launched, the CFTC released the COT holdings weekly report added CME Ethereum contract holdings data.
On May 8, the CFTC announced the latest CME Ethereum Futures Weekly Report (April 28-May 4). During the statistical period, the price of Ethereum increased by about $600, and the market performed significantly better than Bitcoin. , Leading the mainstream currency strongly at this stage. However, the total number of open positions (total open positions) fell from 2,675 to 2,416 in the latest data. The number of consecutive increases in the previous four weeks has come to an end.
In terms of sub-data, long positions of the largest dealers remained unchanged at 0, short positions fell from 26 to 0, and long and short two-way (hedged) positions also remained unchanged at 0.
The long position of asset management institutions rose from 60 to 66, the short position remained unchanged at 0, and the two-way position also remained unchanged at 0.
In the latest statistical cycle, the long position of the leveraged fund account fell from 1011 to 950, the short position fell from 1945 to 1858 simultaneously, and the two-way position fell from 244 to 74. Leveraged funds undertook a considerable amount of simultaneous reduction of multiple types of positions in the latest statistical cycle, and the momentum of continued increase in positions in the past few weeks has come to an end. Leveraged funds have significantly increased the number of Bitcoins in the latest statistical cycle while significantly reducing the number of positions held in Ethereum contracts. It can be considered that such accounts have begun to make profit and lighten their positions after the big rise, and will further increase the price of Ethereum in the future. The degree of confidence in rushing higher has been significantly weakened.
In terms of large positions, long positions rose from 228 to 311, short positions fell from 118 to 69, and two-way positions fell from 22 to 18. Large accounts have undergone a clear net long adjustment in the latest statistical cycle. Although the currency price has risen sharply, the optimism of the big accounts for the future market trend of Ethereum has become stronger.
In terms of retail holdings, long positions fell from 1,110 to 997, and short positions rose from 320 to 397. In the latest statistical cycle, retail investors unexpectedly bucked the trend and carried out net air-conditioning positions. The rapid rise in the market and a sharp drop at the end of the statistical period led to retail accounts that were susceptible to market fluctuations and made emotional choices and chose to quickly cut their long positions. , And did not continue to try to chase more.
Extended reading: What is the CFTC position report? What’s the value? How to interpret it?
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