The Block data shows that the long unpositioned squaring contract (OI) for CME BTC futures reached $4.97 billion two weeks ago, the lowest point for the indicator since early March, a sharp drop from the all-time high of $6.74 billion set in the first week of July, but there has been a recent rebound, with OI increasing to $5.64 billion last week.
Analysts have pointed out that the recent decline suggests that asset managers have been reducing their long exposure to BTC, possibly in response to recent market volatility or as part of a risk management strategy during a period of macroeconomic uncertainty. It is also worth noting that despite the recent decline in OI, the current OI is still much higher than last year.
CME BTC futures long unpositioned squaring contract increases to $5.64 billion
2024-08-20 21:47:46
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