Ibahagi ang artikulong ito
Crypto Market Analysis: Commitment of Traders Report Shows Asset Managers Trimming Long Positions
Bitcoin futures contracts remain in backwardation. Leveraged Funds look to take advantage.
The Commitment of Traders report shows asset managers reduced their open long positions by 559 contracts last week. This marks the second consecutive week of declines, as long positions decreased by 132 in the prior report.
Asset managers now account for 31% of open long positions on the Chicago Mercantile Exchange (CME), down from 43.4% a week prior. The reduction simply means that asset managers now account for a smaller percentage of bullish investors on the CME for the moment. The Commitment of Traders report is a weekly snapshot of open positions on the CME.
STORY CONTINUES BELOW
Huwag palampasin ang isa pang kuwento.Mag-subscribe sa Crypto Daybook Americas Newsletter ngayon. Tingnan lahat ng newsletter
Leveraged funds, by contrast, increased their long positions by 1,367 contracts following a previous 1,694 contract increase. Leveraged funds now account for 30% of the open interest for long positions on the CME, and 51% of the open interest in short positions.
Fewer open long positions by asset managers generally means reduced exposure to BTC prices. Amid the recent downturn, bitcoin's price is down 20% for November, and appear to be building a base of resistance around $16,500.
For leveraged funds, increased long positions could be a byproduct of funds buying futures contracts which currently trade at a discount to spot prices. This condition, referred to as backwardation is generally a bearish sign for markets.
Current bearishness will continue to pressure BTC markets in what has been a prolonged crypto winter. At current prices, just 45% of BTC supply is in profit, down from 70% in the beginning of 2022.
Bitcoin's percent supply in profit has been lower in the past however, falling to 43% in March 2020, and as low as 39% in 2015. Historically, declines in percent supply in profit have marked short-term price bottoms for bitcoin.
Another note of concern is the reduction in net positions for miners, which coincides with an increased hashrate and an uptick in BTC being sent to exchanges.
As hashrate increases, the prospects for miners to generate a profit become more challenging. As that occurs, they often must sell their BTC holdings. Accelerated selling is likely to pressure bitcoin prices downward.
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Bitcoin Rebounds to $93K From Post-Fed Lows, but Altcoins Remain Under Pressure
Downward pressure on bitcoin is losing steam, with the market stabilizing but not yet out of the woods, said one analyst.
What to know:
- Bitcoin rebounded from a sharp early selloff on Thursday to trade above $93,000 shortly after the close of U.S. stocks.
- The late-day gain in bitcoin came alongside a rebound in the Nasdaq from big morning losses; the tech index closed with just a 0.25% loss.
- Downward pressure on bitcoin is losing steam, said one analyst, but the market is not yet out of the woods.
Top Stories
