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CryptoSlate analysis: Bitcoin's rally above $80,000 lacks institutional conviction
CryptoSlate analysis suggests that Bitcoin's recent rally above $80,000 is not strongly supported by institutional conviction. Data from the Commodity Futures Trading Commission (CFTC) as of September 15 showed leveraged funds' net short positions in Bitcoin futures decreased by 7,275 BTC equivalent, while asset managers' net long positions fell by 4,733 BTC equivalent. Additionally, US spot Bitcoin ETFs recorded a net inflow of only $6.1 million for the week of September 14-18, despite a late-week recovery.
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Disclaimer: This content reflects the author's personal views only and does not constitute investment advice.
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