CFTC bitcoin futures report shows the bitcoin price is on the rise

nRunaway Comment: In the first month of 2018, bitcoin and the entire cryptocurrency market are not doing well, with prices for many digital assets plunging. However, the CFTC report released last week tracking the performance of the CBOE bitcoin futures market shows that more and more contracts have started to be bullish on bitcoin recently, which also indicates that bitcoin prices will rise again soon. The most affected by such price fluctuations are generally speculators, long-term investors are more secure.n
nTranslation: Inan
CFTC Report: Bitcoin futures contracts rose sharply last weekn
The recent introduction of futures markets by CBOE and CME has added to the popularity of cryptocurrencies and trading volume. With the arrival of this futures product, the market value of Bitcoin has risen to $ 19,000 per BTC, but the value of Bitcoin has fallen by 40% since entering the new year. Following the emergence of these bitcoin derivatives, the Commodity Futures Trading Commission began publishing reports on the CBOE market performance. Since December, the CFTC’s report shows that futures traders are not optimistic about the price of BTC, showing a bearish sentiment, the spot price trend and the contract forecast. However, the organization’s report on Friday showed another situation where the apparent upward trend of these contracts means that the CBOE traders think the price will rise.n
The report noted that leveraged positions showed 1142 contracts “bullish” and only 518 contracts “bearish.” These numbers contrast sharply with the previous few weeks, when the CBOE contracts were mostly “bearish” and the ratio of “bearish” and “bullish” contracts was 4: 1. Eric Wall, a weekly trading analyst at, also thinks the price will fall.n

“Bears will be defeated”n
Miko Matsumura, founder of Evercoin, recently wrote that he believes caution should be exercised among those who bet on the bitcoin market, especially those who are not actually involved. For example, most futures traders, especially those who trade CBOE and CME products, are just “speculators” who see price increases. Most people do not know the timing of the buy-in that many Bitcoin followers see when the price falls.n
Matsumura explains: “Those who bet bitcoin do not really believe in the value of bitcoin, which means many of them think that value may turn out to be zero and they do not see a lot of people holding bitcoin , And a large number of people can not wait to buy bitcoin at a low price. “n
n”Bitcoin investors are safe, and speculators, be they new-minded or futures traders, are prepared to be crushed.”n

Most leverage traders currently trade through traditional crypto currency exchanges. Bitfinex’s leveraged position on January 28 showed that 26,982 contracts were bullish while 18,226 contracts were bearish. A recent CFTC report shows CBOE traders are reluctant to continue beating bitcoin, and last week they predicted that the bitcoin price trend is about to reverse.n

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