CFTC CME Bitcoin Holdings Weekly Report (June 28-July 4): Large institutions have a clear tendency to be bullish, while small and medium-sized households are bearish in the short term

The latest CFTC CME Bitcoin Holdings Weekly Report (June 28-July 4) released on July 8 showed that the total holdings of Bitcoin standard contracts dropped from 18,829 to 17,008, which was a record high in the previous statistical cycle. After the record high, it fell back. The market’s narrow range and horizontal see-saw caused both short-term long and short sides to show hesitation, which in turn made the enthusiasm for market participation that had continued to heat up before a bit cold.


The long position of the largest dealer account increased slightly from 536 to 556, and the short position decreased from 4473 to 4081. This type of account has carried out a long-lost net long position adjustment in the latest statistical cycle, and maintained a net short position in the past few statistical cycles Usher in the reversal. In the past few statistical cycles, large institutions have continued to increase the layout of empty orders, but they have not continued to maintain the background of the flat market in the latest statistical cycle. The trend has slowed down, but the performance of small net long position adjustments is somewhat intriguing. For large institutions, this position adjustment seems a bit "lag" and "confused". More information needs to be done in the next statistical cycle Make further observations before drawing conclusions.



The long position of asset management institutions rose from 7603 to 8311. This value has risen for four consecutive weeks and hit a record high. The short position remained unchanged at 70 and continued to remain at the low level of nearly 19 weeks. With a clear net long position adjustment, the near-term bullish attitude of such accounts has continued, and the current overall position is almost in an absolutely bullish state.



The long position of leveraged funds dropped from 6145 to 5356, and the short position further rose from 10411 to 10464, which continued to hit a record high. This type of account has carried out a clear net air-conditioning position in the latest statistical cycle. After the aggressive increase in the previous statistical cycle, the performance of this type of account in the latest statistical cycle has clearly expressed its pessimistic attitude towards the market outlook. This is also a more directional expression of a unilateral attitude after a large increase in positions before, so leveraged funds have now taken over and become the most important short-term bearish force.



The long position of the large account has dropped from 324 to 321, and the short position has risen from 758 to 873. In the latest statistical cycle, the large account once again carried out a clear net air-conditioning position. Compared with the dealer account, the short-term short-term bearish attitude of this type of account is more clear .



The long position of retail investors has dropped from 1780 to 1568, and the short position has dropped from 676 to 624. Retail investors have carried out two-way synchronous reduction of long and short positions in the latest statistical cycle, and the reduction of long and single positions has been even greater. A biased judgment was made.



The total open interest of Bitcoin micro contracts fell from 10700 to 9138.


The long position of the dealer account dropped from 223 to 194, and the short position dropped from 4130 to 2170. This type of account has carried out two-way synchronous reduction of long and short positions in the micro contract, and has carried out a similar ambiguous choice of long and short directions as the standard contract.



The long position of the account of the asset management institution rose from 876 to 888, and the short position decreased from 26 to 22. The asset management institution once again carried out a clear net long position adjustment in the micro contract, and continued to consolidate the bullish attitude.



The long position of leveraged funds dropped from 2633 to 2093, and the short position rose from 3054 to 4585. Leveraged funds had a clear net air-conditioning position in the latest statistical cycle, which was consistent with the selection of such accounts in standard contracts, consolidating such accounts A bearish attitude towards the market outlook.



The long position of large investors rose from 2530 to 2536, and the short position decreased from 1809 to 1249. This type of account has carried out a small net long position adjustment in the latest statistical cycle. The position adjustment is not large and is contrary to the direction selected in the standard contract. This type of account is relatively conservative in short-term adjustments, and micro contracts are risk hedging operations.



Retail long positions fell from 3736 to 3182, and short positions fell from 979 to 867.