CME Leveraged Funds Raise Bets Against Bitcoin to Record High as Futures Premium Spikes

Posted on by American Coins & Gold

CME Leveraged Funds Raise Bets Against Bitcoin to Record High as Futures Premium Spikes
Leveraged funds on the Chicago Mercantile Exchange (CME) raised their bets against bitcoin to record high in the week ended Oct. 19, possibly to profit from the widening gap between futures and spot markets prices.The Commodity Futures Trading Commission’s (CFTC) Commitments of Traders report released on Friday showed leveraged funds held a net short position of 31,000 contracts in the seven days to Oct. 19, marking an increase of 6,000 from the previous week.Record shorts by leverage funds does not necessarily mean these traders had a bearish bias. They may have raised short positions in the futures market and simultaneously…