Institutional USD Bulls Slash $15B in Bets
Institutional investors are drastically reducing their bullish US Dollar bets, which could have significant implications for risk assets, including crypto.
A recent CFTC Commitments of Traders report showed that speculative long positioning in the US Dollar fell by $15 billion in a single week, dropping to +$5 billion for the week ending September 15th, the lowest reading since March.
This is not a gradual repositioning but rather conviction selling. Net positioning has collapsed from a peak of approximately +$45 billion to +$50 billion at the bullish extreme in late 2026 to near-neutral in weeks.
The collapse in USD long positions could be beneficial for risk assets, including commodities, emerging market assets, gold, and crypto. A weaker dollar reduces the relative cost of dollar-denominated assets for global buyers, compressing risk premiums across the board.