According to COT weekly report (Commitments of Traders) published by the U.S. Commodity Futures Trading Commission (CFTC).

Major speculators (NON-COMMERCIAL) lower net position of Bitcoin contracts by 0.05 thousand to 1.60 thousands. Major speculators started lowering net position after two weeks of increase. Net position decrease has started since mid-June.

Minor speculators (NONREPORTABLE POSITIONS) following the same strategy.

Hedgers (COMMERCIAL), trading against the trend usually haven’t participated in trading at all.

Open interest went down 0.07 thousand and reached 4.67 thousand contracts.

The bear index of major speculators (the ratio of the number of contracts for sale to the number of contracts for purchase) decreased during the week by 0.02 to 1.69.

Summery: Commitments of Traders reports on bitcoin reflect some growth of bullish sentiment among Large funds have reduced BTC sales by 1%. At the same time, the net position for the reduction of bitcoin decreased by 3% in a week. Continuation of this trend may contribute to the growth of the cryptocurrency.

The minor speculators last week mainly reduced purchases, by 3%. Nevertheless, purchases from small speculators exceed sales by more than 4 times, but minor speculators usually do not have a significant impact on the market.

In general CBOE traders have been cutting open positions for several weeks already. The number of large funds trading on the exchange is decreasing – in the last two weeks their number has fallen by 7 to 43. The open interest is declining. All this shows that large players lose interest in trading this asset.