Leveraged funds’ Bitcoin futures shorts fall by 5,300 BTC-equivalent as longs shrink

According to CryptoSlate, leveraged funds' reported Bitcoin futures shorts fell by about 5,300 BTC-equivalent in the week leading up to September 29. This reduction narrowed their net short position even as aggregate long exposure also declined.

Reporting from CryptoSlate highlights that the Commodity Futures Trading Commission's figures cover CME standard and micro Bitcoin futures, alongside Coinbase Derivatives' nano Bitcoin and nano perpetual-style futures. Compared to positions on September 22, reported shorts fell by 5,299.69 BTC-equivalent and longs fell by 908.99 BTC-equivalent across the four products. Consequently, the net short narrowed by 4,390.70 BTC-equivalent down to 35,720.13, though combined short exposure still exceeded longs.

CryptoSlate notes that standard CME futures accounted for 4,310 BTC-equivalent of the reduction in reported shorts, while leveraged-fund longs increased there by 1,175 BTC-equivalent. However, longs fell in CME micro futures and both Coinbase products. Furthermore, combined futures open interest fell by 13.31% to 103,343.14 BTC-equivalent. CryptoSlate emphasizes that the Tuesday futures snapshot omits paired spot and ETF holdings, meaning the smaller net short does not establish fresh spot buying.