Phi-Deltalytics
Short

BTC: Institutions Not Convinced of Bullishness Yet

COINBASE:BTCUSD   Bitcoin / U.S. Dollar
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BTC’s recent lack of market interest is leading to a concerning drop in the CME open interest money flow index. The last two times this index dropped below 30 is correlated with at least 3 months of BTC corrections.

The bottom indicator in the chart above shows the net position for CME institutional traders over time. This includes both the leveraged fund positions and the asset manager positions on CME . Even though CME displays other trader categories, we find the institutional traders’ behavior most reliable.

Currently, CME institutional traders’ net position remains similar to the level in mid-February 2020 (the BTC price peak before "black Thursday" 40% drop ), and it has been dropping significantly since BTC attempted 10k. For a short-term break above 10k scenario to work, we would like to see the institutional net positions reversing to an increasing trend.

Are you currently a bull or a bear on BTC? All thoughts and critics are welcomed!

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Comment: The weekly outlook & overview now updated from both TA and FA perspectives.
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Comments

If this is anything like the internet stocks, when they get convinced, its time for sane people to leave.
+1 Reply
@alienteck, do you think most people are convinced at this point?
Reply
BNB Could Be Leading Bitcoin Again
+1 Reply
Phi-Deltalytics CryptoCheck-
@CryptoCheck-, thanks for sharing!
Reply
Phi-Deltalytics CryptoCheck-
@CryptoCheck-, very interesting idea. Do you think there's any explanation for the correlation?
Reply
MarxBabu Phi-Deltalytics
@Phi-Deltalytics, good analysis where to get the BTC COT details that you are showing down in your analysis chart ? thank you .
Reply
@MarxBabu, you can find the indicator linked below.
Reply
nice work
+1 Reply
Phi-Deltalytics CryptoCheck-
@CryptoCheck-, best of luck in the week ahead!
Reply
Great insight - thanks!
+1 Reply
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