THELOGICALINDIAN - Data from the US CFTC reveals that institutions on the CME went 100 percent continued on Bitcoin futures potentially capitalizing on yet addition absorbing blooming candle in midMay
CME: Institutions Went 100% Long on Bitcoin
According to information appear by the US Commodity and Futures Trading Commission, institutional investors had opened 100 percent continued Bitcoin futures affairs as of May 14th.
The absolute cardinal of CME Bitcoin futures arrangement amid May 7 and 14 was 199 and all of them were action on Bitcoin activity up. However, it’s additionally account acquainted that the absolute cardinal of opened positions was with 87 beneath compared to the anniversary afore that.
As Bitcoinist reported, acute money additionally went continued on Bitcoin afore April’s amazing rally. It appears that already afresh acute money rode the uptrend, as bitcoin amount [coin_price] soared with about 15 percent from May 13th to May 14th.
On the added hand, the advice from the CFTC additionally reveals that the opened leveraged funds abbreviate positions are added than the continued ones.
Short positions currently annual for 55.2 percent of all leveraged positions on the belvedere with a absolute cardinal of 2455 (1 position = 5 BTC). While continued positions are beneath than that, their cardinal has added back the antecedent week, while abbreviate positions accept decreased.
Looking at Retail
While institutions accept gone absolutely continued as of May 14th, back again retail seems to be a bit added bearish.
Data from TradingView shows that the cardinal of abbreviate positions on cryptocurrency barter Bitfinex has added by about 12 percent in the aftermost bristles days.
The cardinal of continued positions on the barter is additionally appearance an access but it’s beneath absorbing compared to the billow in shorts. Continued positions accept added by about 4 percent in the aftermost bristles days.
Bitcoinist reported beforehand today that the added Bitcoin amount remained ashore at the attrition ambit at about $8,000, the added acceptable it was to correct. And while the cryptocurrency did, in fact, attempt 6.7 percent, some traders like Josh Rager abide unfazed:
Bitcoin amount assay meanwhile shows that BTC/USD is currently actuality accurate by an ascendance triangle pattern, a bullish sign.
Where do you anticipate will Bitcoin go from here? Don’t alternate to let us apperceive in the comments below!
Images address of TradingView, CFTC, Shutterstock.
