Reference reading: "Understand what is the CFTC weekly position report in one article"

The latest CFTC CME Bitcoin Holdings Weekly Report (May 10-May 16) released on May 20 shows that the total holdings of Bitcoin standard contracts have dropped slightly from 13,102 to 13,043, and the fluctuation range of this value is very limited. In the case of small market fluctuations, the total open interest data does not provide much interpretable information, and this weekly report should focus on the details.

The long position of the largest dealer account increased slightly from 556 to 558, and the short position further decreased from 2483 to 2469. This type of account once again carried out a clear net long position adjustment in the latest statistical cycle, but the two-way position adjustment range remained Very limited, the largest institutional accounts continue to ignore the market background and firmly increase their positions. The bullish attitude of such accounts towards the market outlook is becoming clearer.

The long position of asset management institutions has dropped from 6511 to 6349, and the short position has dropped from 229 to 169. In the latest statistical cycle, asset management institutions have carried out two-way synchronous reduction of long and short positions in the opposite direction to the previous statistical cycle, but the ratio of long and short positions There is still no significant change in the data. This type of account has continued the entangled attitude of the past few statistical cycles, and there is still no new directional information given in the latest statistical cycle.

The long position of leveraged funds dropped from 2,752 to 2,337, and the short position dropped simultaneously from 7,634 to 7,062. In the latest statistical cycle, this type of account has carried out two-way synchronous reduction of long and short positions opposite to the previous statistical cycle, and the proportion of long and single positions has hit a new high. Nearly 30 statistical cycles have reached a new low, and the attitude of this type of account has changed in the past few statistical cycles, which may mean that this type of account has returned to the confused state.

The long position of the large account has risen from 399 to 953, and the short position has risen from 580 to 949. In the latest statistical cycle, the large account has carried out two-way synchronous increase in long and short positions, and the net position returned to net long after two statistical cycles. The bearish attitude expressed in the two statistical periods, combined with the rebalancing of other types of accounts, shows that this subtle bullish sentiment is gradually spreading.

The long position of retail investors remained unchanged at 1334, and the short position rose from 626 to 882. Retail investors carried out a unilateral increase in empty orders in the latest statistical cycle, and their short-term attitude was bearish.

The total open interest of Bitcoin micro contracts rose from 9449 to 10506.

Dealer account longs rose to 503 from 470 and shorts fell from 2532 to 2429, with such accounts net-long in micro contracts, reinforcing their bullish stance.

The long positions of asset management accounts dropped from 397 to 362, and the short positions rose from 5 to 632. Asset management institutions carried out net air-conditioning positions in micro-contracts. Combined with the attitude of such accounts in standard contracts, long-short preferences are relatively chaotic.

The long position of leveraged funds increased from 3360 to 3632, and the short position decreased from 4278 to 3459. Leveraged funds have adjusted their net long positions in the latest statistical cycle, and their net positions have returned to the net long position. On the contrary, there is no clear one-way preference.

The long position of large investors has increased from 1944 to 2063, and the short position has increased from 1050 to 1280. This type of account has carried out two-way simultaneous increase in long and short positions in the latest statistical cycle, and the idea of adjusting positions is similar to that of standard contracts.

Retail long positions fell from 2818 to 2635, and short positions rose from 1124 to 1395.