Markets· ★★★· neutral·

Hedge funds cut net short Bitcoin futures bets by nearly 15%

  • —Net short among leveraged funds fell to 30,611 BTC from 35,903 BTC a week earlier
  • —Outright shorts dropped 6,437 BTC to 59,458 BTC; outright longs fell 1,145 BTC
  • —Spread positions rose 2,719 BTC per leg (+48%) to about 8,434 BTC
  • —CME Bitcoin futures open interest fell ~3,567 BTC-equivalent, or 3.2%
Why it matters: The next CFTC report on Oct. 23 will show whether funds kept unwinding shorts after Bitcoin slid below $80,000.
#BTC
Source: CryptoSlate
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