In the previous article where we discussed whether CME Institutions are insanely bullish on crypto or it's a trap. Now we have the data for the previous week where we can see that CME institutions are still building up their positions on the long side. In this article, we will go through that data and see what's happening. Let's dive in...!!
[Note: The purpose of this article is to share information and should not be taken as any type of trading or investment advice. Trade and invest responsibly based on your own research]
CME Institutional Positions
As we have already discussed, the volume traded by CME Institutions and its impact on the market. If you are not aware of CME then let me give you a short description of it. CME stands for Chicago Mercantile Exchange, one of the world's largest derivatives exchanges. Its trading activities can affect the markets because of its high volume and influence over the market. If you want to explore more, check out this official CME Group website.
Now let's get back to the previous week's data on CME Institutions. As you can see in the picture above, CME Institutions have increased their long positions by 715 positions and there is a small decline of 39 positions on the short side. A week before the previous week, there were 8,311 long positions which were grown by 708 and now the total number of long positions is 8,958, a rise of 715 long positions.
We can clearly see that CME Institutions are aggressively increasing their long positions and at the same pace decreasing the short positions. This shows that CME Institutions are highly bullish on crypto. But this confidence by the large players is sort of hard to digest, as they never lean on one single side, they are professionals and are always prepared for the market going in opposite directions. So it is better for us, retail traders to be prepared for any scenario with a proper risk management system.
Advertisement: adbtc.top (highest paying Bitcoin Faucet)For now, most of the things are indicating that crypto or say Bitcoin will rise from here, for example, we saw that digital asset funds saw a huge inflow in the last four consecutive weeks, this CME Institutional data shows bullishness, and finally the open interest on Bitcoin which also shows the sentiment of the market (cannot discuss as it's a long topic, will share it in another article!) But still, as we all know how volatile the crypto market can be and a single piece of news can turn the table around. So the wise thing is to play your own game and be ready for any scenario.
Hope you guys find this short article informative! If yes, then do follow me and share your views on the current crypto market in the comment section.
Thanks for Your Time!
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