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.