Advanced "traders" have the largest NET LONG position in $BTC in history.🔥
In traditional commodities, the "smart money" is usually the commercial trader, who uses the asset in the real business operations.
Bitcoin doesn’t have that kind of player at a relevant scale, so the big non-commercial speculator takes on that role in the CFTC report.
Note that this type of participant has tended to be strongly net long right from local bottom regions since 2022
In traditional commodities, the "smart money" is usually the commercial trader, who uses the asset in the real business operations.
Bitcoin doesn’t have that kind of player at a relevant scale, so the big non-commercial speculator takes on that role in the CFTC report.
Note that this type of participant has tended to be strongly net long right from local bottom regions since 2022