The latest Commitments of Traders report from the CFTC, published on September 25, reveals that large speculators held a net long position of 2,756 Bitcoin futures contracts on the CME as of September 22. This figure represents an increase of 288 contracts compared to the previous week.
Total open interest in Bitcoin futures rose by 1,542 contracts, reaching a total of 22,315. Given that each CME contract is equivalent to 5 BTC, the speculative net long position corresponds to approximately 13,780 BTC in bullish exposure.
Commercial entities, which use futures to hedge real-world exposure, maintained a net short position of 3,109 contracts. This represents a decrease of 452 contracts from the prior week, equating to roughly 15,545 BTC in hedged downside protection.
Data from September 15 indicates that leveraged funds held a net short position of 6,354 contracts. The persistent short positioning among commercial traders suggests ongoing efforts to hedge against potential price pullbacks in the Bitcoin market.
