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Institutional Investment in Bitcoin Futures Falls as Price Stagnate; CFTC


The total institutional investment in Bitcoin [BTC] futures on the CME, Chicago Mercantile Exchange dropped this past week. The data was revealed by the United States Commodity Futures Trading Commission [CFTC] on April 9.

Reports and data suggests that institutional investors and asset managers had 244 open long spots, a drop of 71 from April 2, and 80 open short positions, nine less than one week before. The data reveals that only three open spreading positions for institutional investors, 32 less than the last week. There was a drop of 11% in the number of short positions among institutional investors and almost 30% decrease over the same period for Long positions.

According to the reports, among institutional investors on CME there are long open positions are higher than the short open positions. On BTC futures contracts provided on the CME exchange, there are 3,267 open long positions and 4,177 open short positions.

Data reveals that the number of opened long positions for CME Bitcoin futures contracts by institutional investors and asset managers had increased during the last week. Reportedly there had been an 88% hike in institutional long positions when compared to the last week, with 315 long contracts opened by April 2.

Total short positions hiked by 421 and long positions witnessed mild increase of 366 during the week from April 2 to 9. While the number of short positions witnessed a decrease of 63%, from 241 contracts to 89.

As CoinMarketFeed reported last week, CME had highlighted that its Bitcoin futures witnessed highest trading volumes on April 4, just after the price of Bitcoin hiked to multi-month highs.

Thomas Lee widely known as Tom Lee, Co-founder of Fundstrat Global advisors and Wall Street strategist Thomas Lee revealed on April 11 that his “Bitcoin Misery Index” (BMI) recently hit its highest value since June 2016. He suggested the data could be a positive or a Negative sign.

The Bitcoin Bull, Tom Lee created and developed the BMI, Bitcoin Misery Index with an aim to provide investors information about how “miserable” Bitcoin (BTC) holders are depending on the coin’s price and volatility. According to the reports, prominent cryptocurrency hit a value of 89 on April 2, when the cryptocurrency witnessed a sudden rise above $5,000 level since November.

He explained, “Good--> Since 2011, BMI >67 only seen during $BTC bull markets. More evidence bull starting. Bad --> BMI >67 after peak, $BTC falls ~25% = Profit taking ST.”