A crypto world has the best start of the new year, a long awaiting Bitcoin spot ETF got approved and is trading on the traditional exchanges. Lot of things happened and lot of things changed, except the CME Institutional positions. It's been a while we are tracking the CME Institutional positions to understand what these large institutions are predicting about the market and what could be the future market moves.
In this article, we will look into the previous week's report/data on the positions of CME Institutions in the crypto market. So, let's get started!!
CME Institutional Bitcoin Positions
CME Institutions are one of the largest players in the crypto space with tremendous amount of portfolio and cash. They generally play safe, with enough risk management, but for the past couple of week's we can see the aggressiveness in their positions.
As per the first week of the 2024, that is from 2 of Jan to the 9th of Jan, the CME Institutional Bitcoin positions are as shown in the below picture. You can see that the CME Institutions has increased the long positions by 1,615 and surprisingly there are none short positions. With this add-up, currently there are total 14,339 long positions from CME Institutions and ZERO short positions!
Okay, I typed and you read correct, nane short positions. This is sort of crazy and unexpected thing from the Institutions, as they are always ready for the backfire of the market, but this time they seem pretty sure that they have none short position opened, not even for the sake of risk management!!
Is this is the indication that Institutions are so sure due to the recently approved Bitcoin ETFs or do they know something that we do not? Well, I have not seen this type of aggressive positioning by Institutions, and it surely is rare. Considering the ETF approvals, CME Institutional positions and some other upcoming positive things like Bitcoin Halving, this year seems to be going a very good year for the crypto space!
Conclusion
After the Bitcoin Spot ETF approval, huge amount of money has been getting into the-game now and since it is an institutional money, it is important to take extra precautions now, as they are the pros in the game and been manipulating markets for a very long period. So, it is important to take decisions more wisely and not get shaked by the manipulations of these big players.
Apart from that, all things are looking good for Bitcoin and cryptocurrencies in 2024, at least for now! Hope it'll continue to get more exciting in upcoming months!
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