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Magyar24 Oct 2026
Large speculators held a net long of 2,418 contracts in CME bitcoin futures for the week of 20 October, slightly down from 2,534 a week earlier, according to the CFTC's Commitments of Traders report. Leveraged funds were net short while asset managers were net long, consistent with basis trading.
Regulation TradeReviewed News Desk
Wall Street’s bitcoin futures traders are leaning slightly long, but not by much. Large speculators held a net long of 2,418 contracts in CME bitcoin futures for the week of 20 October, according to the Commodity Futures Trading Commission’s Commitments of Traders report released on 23 October.
The numbers
That is a small pullback from 2,534 contracts the prior week. The figure covers non-commercial speculators and blends standard contracts, which represent 5 BTC, with micro contracts of 0.1 BTC. For the week ending 13 October, total open interest was 20,752 contracts.
The more detailed Traders in Financial Futures breakdown for 13 October showed a split: leveraged funds, typically hedge funds, were net short about 5,844 standard contracts, while asset managers were net long 3,642.
Reading the split
The COT report shows what traders hold, not why. A hedge fund short in futures is often one leg of a basis trade, buying spot bitcoin or ETF shares and selling futures to capture the price gap. Asset managers being long fits clients seeking exposure. So the data looks more like hedging than a strong directional bet.
Macro backdrop
The same report showed speculators trimming shorts in most US Treasury futures, including a cut of 54,796 contracts in two-year notes, while adding to shorts in Ultra Bond futures. Equity speculators reduced their S&P 500 net short. Bitcoin, meanwhile, has hovered around $81,500 after ETF outflows of $635 million on 23 October. The next COT report is due on 30 October.
What it means for traders
- Positioning is neutral: no crowded trade suggests limited squeeze risk either way.
- Watch funding rates too: crypto-native perp markets often show sentiment faster than CME data.
- Trade futures cheaply: compare maker and taker fees in our crypto exchange fee index; BingX tops our exchange comparison.
Sources
- Crypto Briefing: CFTC data shows Bitcoin futures speculators net long 2,418 contracts
- CFTC: Commitments of Traders
News is for information only and is not financial advice. More crypto news
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