How Institutions Position Themselves In Bitcoin This Week
For Bitcoins, the latest COT as of Tuesday, May 1, 2018, institutions stay net short bitcoins but decreased bearish bets by 232 bitcoins to net negative 1,597 bitcoins
94 longs were added and 138 shorts were closed, Now Longs total 3,287 bitcoins vs shorts total 4,884 bitcoins .
40% long exposure vs 60% short exposure , Longs added 1% and shorts dropped 1% from the previous week
This week Bitcoin started at 9,648 on 4/25, rallied high to 9,755, came down to 8,647 low on 26th, closed at 9,066 on 5/1
Longs being added and shorts being closed, It indicates they believe bitcoin will rise from 8600 area,
Still bearish but not as much as before....
Please note institutions take weeks and months to build a position. Bitcoin future exchange started a few months ago,
there were not enough data to analyze institutions long term view in crypto market.
Who cares about USD reports when everybody is in crypto.
by the way.. thanks again for your big upvote...you are so good to me all the time... your generosity is greatly appreciated...
Think of what have you done, to be punished like that. 😇
No, I love to see you around, it feels like you are one of us.....
I am. We all are steemians.
You maybe right.. but forex market is the largest marketplace in the world, crypto , in comparison, a much smaller scale. Plus as a US citizen, I don't have a lot of access to trade crypto the way I want to. I am a Forex trader, I like liquidity and price stability in the currency market. If the traders are good, for example @gatorinla, who has a lot of followers in forexfactory, I am one of them, he has probably traded forex for 20 or more years, they trade forex for a living. So I think there is the same or even better money to make in currency market without a lot of worries coming with crypto regulations.
I only buy crypto for long term hold.. I don't trade in and out...
Estimation of 4 trillion per day last I heard.
Thank you. I knew that I can find right people even in God's forgotten places, but did not know why I find them. 😜
@scorer, you are a funny, sweet and wise man...