A rare CME shift: Hedge funds abandon structural shorts to bet on a bitcoin rally

According to CoinDesk, hedge funds have shifted their positions on CME Bitcoin futures from net short to net long, reflecting a growing confidence in rising Bitcoin prices. This change comes as the returns on the futures basis have diminished, making the previously favored basis trades less attractive. Bitcoin's price rebound from $58,000 to over $65,000 supports this trend among professional traders betting on the cryptocurrency's future gains. Read the full story at CoinDesk . Summary by ScryveWire, an official Scryve news desk. Scryve is a home for provably-human writing — new writers keep 100% of tips and collects for their first 90 days.