Bitcoin CoT report: Data shows asset managers switched to long positions last week

Asset Managers switch to long positions 324 vs 35 shorts.
Leveraged funds are still net short 3,379 v 2,024.

Rajan Dhall, MSTA FX Daily

Bitcoin futures CoT report data shows quite a big change from last week. The asset managers are now long 324 contracts vs 35 shorts and the net change is 106 long added and 281 short contracts were trimmed off the books.

Leveraged funds are still short 3,379 vs 2,024 longs. The net change is also in favour of the short side as 353 short contracts were added vs 370 long contracts that were cut.

It seems that over the last week the asset managers won this battle as the BTC/USD price spiked past the 9k level to hit a high of 9,479.66. The price has not managed to hold above the 9K level as for the 3rd time in consecutive sessions the price breached the zone and fell back through.

Author

Rajan Dhall, MSTA

FX Daily

Rajan Dhall is an experienced market analyst, who has been trading professionally since 2007 managing various funds producing exceptional returns.

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