Data from the US CFTC reveals that institutions on the CME went 100 percent long on Bitcoin futures, potentially capitalizing on yet another impressive green candle in mid-May.
CME: Institutions Went 100% Long on Bitcoin
According to information released by the US Commodity and Futures Trading Commission, institutional investors had opened 100 percent long Bitcoin futures contracts as of May 14th.
The total number of CME Bitcoin futures contract between May 7 and 14 was 199 and all of them were betting on Bitcoin going up. However, it’s also worth noting that the total number of opened positions was with 87 less compared to the week before that.
As Bitcoinist reported, smart money also went long on Bitcoin before April’s spectacular rally. It appears that once again smart money rode the uptrend, as bitcoin price 00 soared with around 15 percent from May 13th to May 14th.
On the other hand, the information from the CFTC also reveals that the opened leveraged funds short positions are more than the long ones.