CFTC: Institutional investors have increased Bitcoin long positions by 88%

13 Apr, 2019
by Richard Allen
CFTC: Institutional investors have increased Bitcoin long positions by 88%

According to recent information provided by the Commodities Futures Trading Commission (CFTC), April saw 315 long Bitcoin futures contracts opened on the Chicago Mercantile Exchange (CME). This is an increase of over 88% over the last week and signifies and a complete turnaround in market sentiment.

Short positions, by comparison, dropped from 241 contracts to 89 – a decline of more than 63% in the span of a week.

While more data will be needed to definitively state institutions are bullish in the long run, the data does suggest an apparent reversal of the trend, at least in the short term.

Institutional involvement in cryptocurrencies could lay a critical role in their mainstream adoption. Additionally, the large volumes associated with institutional investors have a direct impact on the market.

Some experts attribute the involvement of institutional player as the catalyst for the next bull run. Mike Novogratz, for example, explained in the midst of last year’s bear market that institutions are necessary to kick start the next bull run.

Read more: CFTC Chairman: CFTC always tries to nurture crypto-assets development

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