Leveraged Funds Cut Bitcoin Shorts by 5,300 BTC-Equivalent

Leveraged funds have reduced their Bitcoin futures shorts by approximately 5,300 BTC-equivalent in the week leading up to September 29. According to the Commodity Futures Trading Commission's latest figures, released on October 2, this decrease has narrowed the net short position of these funds.

The CFTC reports that the funds' reported shorts fell by 5,299.69 BTC-equivalent and longs decreased by 908.99 BTC-equivalent from September 22 positions. This resulted in a net short narrowing of 4,390.70 BTC-equivalent, with their combined short exposure still exceeding their longs.

The standard CME futures accounted for the majority of the reduction in reported shorts at 4,310 BTC-equivalent, while their leveraged-fund longs increased by 1,175 BTC-equivalent. Longs fell in CME micro futures and both Coinbase products, more than offsetting that increase.