CME Hedge Funds Flip Net Long On Bitcoin Futures For The First Time In Years
Hedge funds just went all-in on Bitcoin, as for the first time in years they have flipped net long on CME Bitcoin futures. In addition, the chart has turned green after a long streak of bearish performance. CryptoQuant CEO Ki Young Ju noted the shift, calling it “rare”. These funds have run net short for years to sustain the classic basis trade (buy spot or ETFs, short the futures, pocket the premium).