Traders Bet that Bitcoin’s Resurgence Will be Short Lived

According to a recent report from the Commodity Futures Trading Commission hedge funds and other money managers held about 14 percent more bearish short positions than they did bullish long positions last week; this comes at a time when bitcoin has seen a resurgence getting above $12,000 as of this morning; other large traders were even more bullish on the digital currency as they do not believe this surge will last very long; small investors, defined as those with fewer than 25 bitcoin contracts, on the other hand were the most bullish; “Traditional market participants may be more skeptical of bitcoin than millennial day traders,” said George Michalopoulos, a portfolio manager with Chicago fund manager Typhon Capital Management LLC, to the Wall Street Journal. Source.

  • Todd is the host of PitchIt: the fintech startups podcast, a weekly interview show featuring emerging fintech founders and leading venture capitalists. He is responsible for leading the content team which covers fintech through daily & weekly email newsletters, editorial, virtual events, and in-person conferences. He has been covering fintech, banking, and venture capital for more than 15 years, including speaking regularly at industry events.

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