The proportion of retail short positions hit a three-month high, and institutions lacked a sense of direction | CFTC Bitcoin Positions Weekly Report

Reference reading: "Understand what is the CFTC weekly position report in one article"

The latest CFTC CME Bitcoin Holdings Weekly Report (May 17-May 23) published on May 27 shows that the total holdings of Bitcoin standard contracts remained unchanged at 13,043. This value is very rare and there is no value for the entire week The changing situation shows the market's entanglement.

The long position of the largest dealer account dropped slightly from 558 to 546, and the short position further dropped from 2469 to 2437. This value has dropped for six consecutive weeks. This type of account has not continued the net long of the previous statistical cycles in the latest statistical cycle The idea of rebalancing positions has shifted to a two-way small and simultaneous reduction of long and short positions. The net long attitude expressed in the previous statistical cycles has eased, and the overall entanglement in the market has further fermented.

The long positions of asset management institutions rose slightly from 6349 to 6373, and the short positions simultaneously rose from 169 to 180. In the latest statistical period, asset management institutions carried out two-way synchronous reduction of long and short positions, continuing the idea of adjusting positions in the previous statistical cycle. However, the ratio of long-short positions has not changed significantly, and the lack of long-short preferences for such accounts has not changed in recent statistical cycles.

The long position of leveraged funds dropped from 2337 to 2184, and the short position rose slightly from 7062 to 7078. This type of account had a clear net air-conditioning position in the latest statistical cycle, and the reduction in long positions was relatively large. After abandoning the short-term idea of net long position adjustment in the statistical cycle, the thinking of the latest statistical cycle has further turned empty. The directionality of the net air-conditioning positions of this type of account in the latest statistical cycle still needs to be considered, and it needs to continue to be observed in the next statistical cycle.

The long position of the large account has risen from 953 to 1189, which hit a new high in the past ten statistical cycles, and the short position remained unchanged at 949. The large account has carried out a net long position adjustment in the latest statistical cycle, and the advantage of the proportion of long positions has been further enlarged , large accounts have become the most definite category of accounts with a bullish attitude in the latest statistical cycle.

The long position of retail investors dropped from 1334 to 1207, and the short position dropped from 882 to 855. In the latest statistical period, retail investors carried out two-way synchronous reduction of long and short positions. Retail investors' pessimism about the market outlook has reached a recent high.

Total open interest in Bitcoin micro contracts fell from 10,506 to 10,042.

The long position of the dealer account rose from 503 to 557, and the short position decreased from 2429 to 2265. This type of account has carried out net long position adjustment in the micro contract. Combined with the results of standard contract position adjustment, this type of account does lack clear short-term Unilateral preference.

The long position of the account of the asset management institution dropped from 362 to 341, and the short position rose from 632 to 636. The asset management institution once again carried out a net air-conditioning position in the micro contract. Since the adjustment of the position was not large, the directionality was limited.

The long position of leveraged funds has increased from 3632 to 3832, and the short position has increased from 3459 to 3784. Leveraged funds have carried out two-way synchronous increase in long and short positions in the latest statistical cycle, and the long and short positions are basically the same, which does not affect this type of account in the standard contract. The attitude expression of headroom also provides a good foundation for further clarifying the direction of the next statistical cycle.

The long position of large investors has dropped from 2063 to 1838, and the short position has dropped from 1280 to 1270. In the latest statistical cycle, such accounts have carried out two-way simultaneous increase in long and short positions. In conjunction with standard contracts, the adjustment of micro-contracts is a risk control disposal.

Retail long positions fell from 2635 to 2598, and short positions fell from 1395 to 1202.