Bitcoin purchases grow along with sales
The COT bitcoin report data reflects some increase in bullish sentiment among large speculators. Large funds actively increased buying and selling, which led to a reduction in the net position on the decline of BTC. A continuation of this trend may contribute to the cryptocurrency's rise.
Longer-term hedgers have slightly increased their net position on BTC growth.
Small speculators mostly reduced purchases, which led to a decrease in net position on cryptocurrency growth. Small players were marked by growth of bearish sentiment, but this group of traders usually does not have a significant impact on the market.
COT reports data are fundamental and are used mainly for medium and long term trading. Large speculators, NON-COMMERCIAL (banks, investment funds) usually trade along the trend (blue line). Small speculators, NONREPORTABLE POSITIONS - usually have little influence on the market (red line). HEDGERS, COMMERCIAL (operators, large companies) trade usually against the trend (black line). Net position is the difference between the number of buy and sell contracts. Open Interest is the sum of all open positions in the market.