- The latest CoT report data shows asset managers hold 465 shorts compared to 101 long positions.
- They also added 103 shorts and trimmed 14 long positions.
- Leveraged funds hold 2907 shorts vs 1869 long contracts.
- They added 488 long contracts and trimmed 96 short contracts.
Bitcoin has fallen over the last few hours of trading but this recent CoT data shows the tide might be turning after a few weeks of bearish price action. The leveraged funds are especially bullish at the moment. Since hitting 4K there was a serious amount of volume coming in on the buy-side to support the BTC/USD price and the bullish candles show the price action turning. 7K now seems to be the next resistance level the bulls have to take to convince the market that the hard times are over.
%20(32)-637203360528850214.png)
Share
