Key Takeaways
- • Leveraged funds reduced their net short position in Bitcoin futures on the CME by nearly 15% through October 13, falling from about 35,903 to 30,611 BTC equivalent.
- • Despite the reduction, leveraged fund shorts remain more than twice the size of their longs.
- • Spread positions, which offset longs and shorts, rose about 48% over the same period, while open interest in Bitcoin futures fell 3.2%.
- • Bitcoin's price declined roughly 2.8% during the period; asset managers modestly increased their net long positions.
- • The next CFTC-style positioning update is expected October 23, following a later Bitcoin price drop toward $80,000.
Summary
Leveraged funds cut their net short exposure in Bitcoin futures on the Chicago Mercantile Exchange (CME) by nearly 15% through October 13, according to figures reported by Pluang. The net short position fell from about 35,903 BTC equivalent to 30,611 BTC equivalent. Even after the reduction, leveraged fund shorts remain more than double the size of their longs, indicating that bearish positioning remains dominant among these participants.
Over the same window, spread positions, which offset long and short exposure, increased by about 48%. Open interest in Bitcoin futures decreased by 3.2%, while Bitcoin's price fell roughly 2.8%. Asset managers separately increased their net long positions slightly, a divergence from the leveraged fund cohort.
The positioning data precedes a later decline in Bitcoin toward $80,000, and the next position update is scheduled for October 23. Pluang's market snapshot as of October 20, 2026 at 08:21 WIB showed 16 of 50 major cryptocurrencies rising and 33 falling, with Cardano (ADA) at Rp3.886 (-2.53%) and Curve (CRV) at Rp6.589 (+2.38%).
Over the same window, spread positions, which offset long and short exposure, increased by about 48%. Open interest in Bitcoin futures decreased by 3.2%, while Bitcoin's price fell roughly 2.8%. Asset managers separately increased their net long positions slightly, a divergence from the leveraged fund cohort.
The positioning data precedes a later decline in Bitcoin toward $80,000, and the next position update is scheduled for October 23. Pluang's market snapshot as of October 20, 2026 at 08:21 WIB showed 16 of 50 major cryptocurrencies rising and 33 falling, with Cardano (ADA) at Rp3.886 (-2.53%) and Curve (CRV) at Rp6.589 (+2.38%).
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