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

Leveraged funds have reduced their short positions in Bitcoin futures by about 5,300 BTC-equivalents over the past week. The net short position has decreased from 40,110.83 to 35,720.13 as a result of this reduction.

The data come from the Commodity Futures Trading Commission's statistics on futures contracts for four products: CME Bitcoin standard and micro futures, as well as Coinbase Derivatives' nano and perpetual-style nano futures. The figures convert different contract sizes into BTC-equivalent exposure.

CME Bitcoin standard futures accounted for 4,310 BTC-equivalents of the decline in reported short positions, while long positions in that same category rose by 1,175 BTC-equivalents. However, longs declined in CME micro futures and in the two Coinbase Derivatives products, more than offsetting the increase seen in the CME standard contract.

The combined short exposure remained higher than the long exposure, even with this improvement in the net balance. The net long position across the four products increased by 2,137.90 BTC-equivalents to 18,069.10 among asset managers.