Analysis of CME's weekly Bitcoin futures report

In our brief review, we will analyze the next COT (Commitments of Traders) report on Bitcoin futures contracts of the Chicago Mercantile Exchange (CME) for the period from 05/02/2018 to 05/08/2018

On the website the CME weekly report was published on May 11, 2018 as follows.

It is slightly different from the appearance in which it is published on the site of the CME exchange itself (Chicago Mercantile Exchange).

In our opinion, here it has a more visual appearance. However, it does not reflect the total number of large traders, while the CFTC report form shows that the number of traders is 27 (12 traders are long and 15 are short). Let us recall that the first CME report was published on April 13 and included 20 large traders.   

In addition, the CME report has one more feature - the total number of NON-COMMERCIAL transactions is divided into LEVERAGED (credit) and OTHER REPORTABLE (other reportable). The sum of 1284 and 391 gives the total number of contracts open for long positions - 1675, and the sum of 1707 and 368 displays the number of contracts for short positions - 2075.

From the report it follows that last week open interest (OPEN INTEREST) ​​was 2485 contracts, with a standard value of 5 BTC. There were 2,465 contracts long and short and 20 contracts were oversold. 

The change in the number of open positions compared to last week gives an idea of ​​how traders' views on the value of Bitcoin are changing at the end of the contract. It can be seen that the number of contracts for both short and long positions has increased, but the number of short positions prevails over long ones by 16.1%. This means that the expectation of most traders is that the price of BTC will decrease. At least, this was the mood last week.