- Institutions heavily increased short positions.
- Leveraged funds are still positioned in favour of longs.
In the latest commitment of traders report from the CFTC the data shows asset managers/institutions increase net short positions by 149 contracts last week.
The leveraged funds, however, moved in favour of longs 147 vs -129. Although the net position of leveraged funds is still short.
Now all of this is data dated between 12th-19th November and it seems to have played out pretty well looking at today’s crypto bloodbath.
Today saw another round of selling in the BTC futures contract to a low of 6,775. The price then moved above the pivotal 7k level and currently holds at 7,355 at the time of writing.