Large Speculators are now net-short Bitcoin futures (red circle, bottom right) according to COT positioning data. As previously published, Bitcoin has never rallied when LG Specs were net-long, but that does not mean BTC is going to instantly start going up with the turn to net-short.
From an overall positioning standpoint, Bitcoin is neutral since non of the trader types are at a max position, so reward/risk from a CMR process type trade is not there, but it is interesting to see how Bitcoin now reacts to news (whether bullish or bearish) and see of market tone changes with positioning data changing. I think one week is not enough to confirm so this Friday will be telling to see if LG Specs continue to short BTC or flip back to net-long.
From an overall positioning standpoint, Bitcoin is neutral since non of the trader types are at a max position, so reward/risk from a CMR process type trade is not there, but it is interesting to see how Bitcoin now reacts to news (whether bullish or bearish) and see of market tone changes with positioning data changing. I think one week is not enough to confirm so this Friday will be telling to see if LG Specs continue to short BTC or flip back to net-long.
Crowded Market Report by Jason Shapiro
crowdedmarketreport.com
crowdedmarketreport.com
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Crowded Market Report by Jason Shapiro
crowdedmarketreport.com
crowdedmarketreport.com
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.