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.
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. 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.
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.
GWilliamsJr_CMT What happens when hashrate increases?
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Canada Canada Latest News, Canada Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Bitcoin, Ethereum Technical Analysis: Bitcoin Rebounds, Coinbase Confirms Holding 2 Million BTC – Market Updates Bitcoin NewsBitcoin moved back above $16,000, as markets continued to react to the news that Coinbase holds 2 million bitcoin worth $39.9 billion. $BTC has been always unpredictable, and definitely trading will have very little to no success in this environment. Therefore the need for gems like EchelonFDN $ECH you can hodl or stake long term in your private wallet for massive gains $Dollar $ETH Arbitrum $BNB airdrop $LTC SupportCoinbase ✊ Congratulations all who bought BTC under 16^ including me. Bought some with my USDT.
Source: BTCTN - 🏆 531. / 51 Read more »
Crypto Markets Shed $60B in 2 Days as Bitcoin Slumps Below $16K (Market Watch)The cryptocurrency market cap has dumped below $800 billion following two consecutive days of price drops.
Source: Crypto_Potato - 🏆 568. / 51 Read more »
Bitcoin, ether, altcoins, crypto stocks are all buzzing pre-market ahead of Fed minutesCryptocurrencies were up across the board on Wednesday, while crypto-related stocks were buoyed as equities traded higher.
Source: TheBlock__ - 🏆 464. / 53 Read more »
Crypto Market Analysis: Investors See Few Encouraging SignsMarket Analysis: Relative Rotation Graphs, a visual tool to capture trends in assets, do not show many signs of hope, even for cryptocurrencies that rose significantly over the last three months. GWilliamsJr_CMT reports GWilliamsJr_CMT Thankss a millon
Source: CoinDesk - 🏆 291. / 63 Read more »
Ethereum Hints at Return to $2,000 After Reaching Market Floor: Crypto Market Review, Nov. 22While $ETH is potentially aiming at a new price target, $SOL volume is hitting unprecedentedly low values Thankss a millon Thankss a millon
Source: Utoday_en - 🏆 295. / 63 Read more »