As Prices Consolidate in Spot Markets, Asset Managers Increase Long Positions in Derivative Markets
The Commitment of Traders Report indicates asset managers’ continued bullishness in bitcoin markets.
Bitcoin price action has begun to consolidate, following the 21% increase between June 15 and June 23. While investors appear to be pausing in spot markets, the Commitment of Traders (COT) report shows an increased appetite for long positions within derivative markets.
The COT report, published weekly by the Commodity Futures Trading Commission, details the open interest, and directional position of bitcoin futures traders across institutional categories of various sizes. The report is a proxy for sentiment, as traders disclose the extent to which they are long or short, bitcoin futures.
Long positions spike
The most recent COT report shows that asset managers increased their open long positions by 495 contracts last week. Leveraged funds by comparison, increased their long positions by 1,449 contracts, following a reduction of 538 contracts the week prior.
Asset managers with reportable positions are now 94.87% long bitcoin. This figure has been as high as 99% in prior COT reports. Leveraged funds with reportable positions are now 19.58% long and 80.42% short bitcoin.
The rise in long positions is an understandable reaction to recent market dynamics. The potential approval of a spot bitcoin ETF has given derivative markets the same type of boost that has occurred within spot markets.
The options open interest put/call ratio is 0.32, according to data analytics firm Coinglass. A put/call ratio below 1.0 implies a higher demand for buying than selling.
While not an ironclad sign of where prices are going next, the lack of bearish bets, following a 20% increase, indicates that investors are not looking to sell into the recent rally.
BTC’s chart shows three consecutive negative days prior to today's price action. Trading volume on the down days was below BTC’s 20-day moving average however, indicating that the momentum behind the decline was relatively weak. Some of the decline is a byproduct of decreased weekend trading, but the trend held on Monday as well.
Key levels to watch to the downside are $30,000, as well as $27,800. The $30,000 level marks a growing area of support, as well as a psychologically important level where buy and sell orders are likely to cluster. The $27,800 level coincides with BTC’s current 20-day moving average, which could be a target for traders expecting BTC to revert to its mean.
Edited by James Rubin.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
WhatsApp Introduces Wrist-Based Messaging: Meta's Strategy to Broaden Its Ecosystem
- Meta launches WhatsApp standalone Apple Watch app for Series 4+ devices, enabling wrist-based messaging, calls, and media previews without iPhone dependency. - The app retains end-to-end encryption and introduces voice messages, emoji reactions, while signaling Meta's shift from Messenger to consolidate messaging under WhatsApp. - By expanding cross-device integration, WhatsApp gains a new engagement touchpoint for its 3B+ users, aligning with Meta's monetization strategies through ads and channel subscr

SUI News Today: Perpetual DEXs See $1.2 Trillion Boom, But Underlying Issues Remain in Crypto Derivatives Competition
- Perp DEX trading volumes hit $1.2T in Oct 2025, driven by incentive programs and market liquidations. - Lighter (27% share) and BNB-backed Aster led growth, while Hyperliquid's share dropped to 10% despite strong fundamentals. - Sui blockchain's HyperSui raised $2M, signaling potential to boost DeFi TVL to $3B and drive SUI price to $11.20. - Analysts warn of structural challenges despite short-term growth, with volumes expected to stabilize unless new liquidation events occur.

Bitcoin Updates Today: Will Bitcoin Maintain $106K? November Support Level May Trigger Sustained Buying
- Bitcoin fell 3.4% in October amid geopolitical tensions and Trump's China tariffs, triggering $19B in liquidations despite a late 24-hour 0.54% rebound. - Institutional caution grew as Hargreaves Lansdown warned against Bitcoin's volatility, while Prenetics and Steak 'n Shake expanded crypto holdings and promotions. - Technical analysis highlights $106,600 as a critical support level, with a break potentially pushing prices toward $98,000–$100,000 for long-term buying opportunities. - November's trajecto

YFI Drops 5.18% Over 24 Hours as Long-Term Indicators Show Continued Downtrend
- YFI fell 5.18% in 24 hours, 6.64% in 7 days, and 46.1% annually, signaling prolonged bearish pressure and weak buyer interest. - Technical indicators suggest continued downside risk, with key support levels likely to be tested as consolidation extends. - A backtest hypothesis proposes shorting YFI after 10% declines, evaluating profitability through historical data from 2022-2025.
