Leveraged Funds Trim Bitcoin Futures Shorts by 5,300 BTC-Equivalent

Leveraged funds' short positions in Bitcoin futures decreased by approximately 5,300 BTC-equivalent over the week ending September 29. This reduction narrowed their net short position from 40,110.83 to 35,720.13 BTC-equivalent. Meanwhile, their long exposure also shrank by around 908.99 BTC-equivalent.

The Commodity Futures Trading Commission's latest figures, released on October 2, cover CME standard and micro Bitcoin futures as well as Coinbase Derivatives' nano Bitcoin and perpetual-style futures. These totals convert different contract sizes into BTC-equivalent exposure, describing futures positions rather than physical bitcoin transfers.

Compared to the previous week's positions, leveraged funds' reported shorts fell 5,299.69 BTC-equivalent, while longs decreased by 908.99 BTC-equivalent. This resulted in a net short reduction of 4,390.70 BTC-equivalent. Despite this decrease, their combined short exposure still exceeded their longs.

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