wry Posted August 28, 2018 #1 Posted August 28, 2018 I thought this was really interesting. As many of you know BTC futures trade on major US exchanges. The futures do not settle in Bitcoin, they settle in USD, so they are no different than simply making bets on the price of Bitcoin. One of the nice things about the U.S. futures market is that they publish data on who (broadly) holds positions in those markets. They are broken down by class of trader. While I do not own a lot of BTC I do like it when the price goes up because I like it when all the BTC haters on Wall Street are shown to be wrong. Normally there are a lot more bets from Wall Street institutions such as banks and hedge funds that the price of bitcoin will go down. So I was enjoying this latest price tick up from the low to mid 6000s to 7000 USD until I saw this: https://www.coindesk.com/upside-calling-bearish-bets-on-bitcoin-futures-hit-record-low/ Those pesky hedge funds closed out their shorts before this run up in price! Dag nab it! Of course, maybe this means they have shifted their view and are pushing this rally, which would be welcome. Anyway, I thought it was interesting and hope you do to!
Lillyflow Posted August 30, 2018 #2 Posted August 30, 2018 On 8/28/2018 at 12:39 PM, wry said: I thought this was really interesting. As many of you know BTC futures trade on major US exchanges. The futures do not settle in Bitcoin, they settle in USD, so they are no different than simply making bets on the price of Bitcoin. One of the nice things about the U.S. futures market is that they publish data on who (broadly) holds positions in those markets. They are broken down by class of trader. While I do not own a lot of BTC I do like it when the price goes up because I like it when all the BTC haters on Wall Street are shown to be wrong. Normally there are a lot more bets from Wall Street institutions such as banks and hedge funds that the price of bitcoin will go down. So I was enjoying this latest price tick up from the low to mid 6000s to 7000 USD until I saw this: https://www.coindesk.com/upside-calling-bearish-bets-on-bitcoin-futures-hit-record-low/ Those pesky hedge funds closed out their shorts before this run up in price! Dag nab it! Of course, maybe this means they have shifted their view and are pushing this rally, which would be welcome. Anyway, I thought it was interesting and hope you do to! That is so funny Wry. So very clever indeed for you to notice this. It is like fantasy crypto- using fiat. Too strange.
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