Large institutional investors are holding net long positions in Bitcoin, according to an analysis of the latest Commitment of Traders data from the U.S. Commodity Futures Trading Commission.
An analysis based on the weekly Commitment of Traders (COT) report released by the U.S. Commodity Futures Trading Commission (CFTC) suggests that large institutional investors are maintaining net long positions in Bitcoin.
Tom McClellan, editor of the McClellan Market Report, said on X, “In most commodity futures markets, commercial traders who produce, hold, or consume the underlying commodity often have a major influence on market trends. However, the Bitcoin market is different, as it is largely driven by non-commercial traders such as hedge funds and asset managers.”
He added, “Compared with the end of last year, the positioning of non-commercial traders has changed noticeably. Unlike back then, they are now holding a substantial net long position in Bitcoin.”