As Prices Consolidate in Spot Markets, Asset Managers Increase Long Positions in Derivative Markets

Crypto Markets Analysis: The Commitment of Traders Report indicates asset managers’ continued bullishness in bitcoin markets. GWilliamsJr_CMT reports

Asset managers appear to believe that prices will rise, and have increased their long positions.Bitcoin price action has begun to consolidate, following the 21% increase between June 15 and June 23. While investors appear to be pausing in spot markets, the Commitment of Traders report shows an increased appetite for long positions within derivative markets.

Asset managers with reportable positions are now 94.87% long bitcoin. This figure has been as high as 99% in prior COT reports. Leveraged funds with reportable positions are now 19.58% long and 80.42% short bitcoin. The options open interest put/call ratio is 0.32, according to data analytics firm Coinglass. A put/call ratio below 1.0 implies a higher demand for buying than selling.

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