Leveraged Funds Trim Bitcoin Futures Shorts by 5,300 BTC-Equivalent
Leveraged funds' reported Bitcoin futures shorts fell by about 5,300 BTC-equivalent in the week to September 29, narrowing their net short even as their aggregate long exposure shrank.
The Commodity Futures Trading Commission's latest futures-only figures, released on October 2, cover CME standard and micro Bitcoin futures plus Coinbase Derivatives' nano Bitcoin and nano perpetual-style futures.
Compared with September 22 positions, the funds' reported shorts fell by 5,299.69 BTC-equivalent and longs fell by 908.99 BTC-equivalent, resulting in a net short narrowing of 4,390.70 BTC-equivalent from 40,110.83 to 35,720.13.
The combined short exposure still exceeded their longs, but asset managers' net long across the four products increased by 2,137.90 BTC-equivalent to 18,069.10. Their longs rose by 573.10 BTC-equivalent while shorts fell by 1,564.80 BTC-equivalent.
Combined open interest, the outstanding futures exposure across these markets, fell 13.31% to 103,343.14 BTC-equivalent from 119,208.26.