Technical analysis by Wakandian about Symbol BTC on 6/20/2023

Commitments of Traders (COT) report for Bitcoin futures on the Chicago Mercantile Exchange (CME) as of June 13, 2023. Here's a breakdown of the data:Bitcoin Futures (Code-133741):Total Open Interest: 13,251 contractsNon-Commercial Traders (Speculators):Long Positions: 10,086 contractsShort Positions: 9,343 contractsSpreading Positions: 1,875 contractsCommercial Traders:Long Positions: 122 contractsShort Positions: 1,309 contractsTotal Reportable Long Positions: 12,083 contractsTotal Reportable Short Positions: 12,527 contractsTotal Nonreportable Long Positions: 1,168 contractsTotal Nonreportable Short Positions: 724 contractsChanges from the previous report (June 6, 2023):Long Positions: Decreased by 20 contractsShort Positions: Increased by 6 contractsSpreading Positions: Increased by 314 contractsCommercial Long Positions: Decreased by 65 contractsCommercial Short Positions: Decreased by 74 contractsTotal Reportable Long Positions: Increased by 229 contractsTotal Reportable Short Positions: Increased by 246 contractsTotal Nonreportable Long Positions: Decreased by 4 contractsTotal Nonreportable Short Positions: Decreased by 21 contractsPercentage of Open Interest Held by Each Category of Trader:Non-Commercial Long Positions: 76.1% of open interestNon-Commercial Short Positions: 70.5% of open interestCommercial Long Positions: 0.9% of open interestCommercial Short Positions: 9.9% of open interestNumber of Traders in Each Category:Non-Commercial Traders: 38 tradersCommercial Traders: 54 tradersPercentage of Open Interest Held by the Largest Traders:Long Positions: 66.5% (4 or less traders) and 73.6% (8 or less traders)Short Positions: 33.9% (4 or less traders) and 48.9% (8 or less traders)Micro Bitcoin Futures (Code-133742):Total Open Interest: 7,915 contractsNon-Commercial Traders (Speculators):Long Positions: 4,685 contractsShort Positions: 6,160 contractsSpreading Positions: 593 contractsCommercial Traders:Long Positions: 188 contractsShort Positions: 0 contractsTotal Reportable Long Positions: 5,466 contractsTotal Reportable Short Positions: 6,753 contractsTotal Nonreportable Long Positions: 2,449 contractsTotal Nonreportable Short Positions: 1,162 contractsChanges from the previous report (June 6, 2023):Long Positions: Increased by 178 contractsShort Positions: Increased by 95 contractsSpreading Positions: Increased by 139 contractsCommercial Long Positions: Increased by 16 contractsTotal Reportable Long Positions: Increased by 333 contractsTotal Reportable Short Positions: Increased by 234 contractsTotal Nonreportable Long Positions: Decreased by 18 contractsTotal Nonreportable Short Positions: Increased by 81 contractsPercentage of Open Interest Held by Each Category of Trader:Non-Commercial Long Positions: 59.2% of open interestNon-Commercial Short Positions: 77.8%For Bitcoin Futures:Total open interest: 13,251 contractsNon-Commercial Traders (Speculators) hold the majority of the open interest, with 76.1% of the long positions and 70.5% of the short positions.Commercial Traders hold a smaller portion of the open interest, with 0.9% of the long positions and 9.9% of the short positions.The number of Non-Commercial Traders is 38, while there are 54 Commercial Traders.The largest traders (4 or less) hold 66.5% of the long positions and 33.9% of the short positions, while the largest 8 or less traders hold 73.6% of the long positions and 48.9% of the short positions.For Micro Bitcoin Futures:Total open interest: 7,915 contractsNon-Commercial Traders (Speculators) hold 59.2% of the long positions and 77.8% of the short positions, making them the dominant group.Commercial Traders hold a smaller portion of the open interest, with 2.4% of the long positions and no short positions.The number of Non-Commercial Traders is 50, while there are 34 Commercial Traders.The largest traders (4 or less) hold 26.5% of the long positions and 52.4% of the short positions, while the largest 8 or less traders hold 35.4% of the long positions and 68.2% of the short positions.Key Points to note:Speculators (Non-Commercial Traders) hold the majority of the open interest in both Bitcoin Futures and Micro Bitcoin Futures.Commercial Traders have a smaller presence in terms of open interest.The number of traders is higher for Bitcoin Futures compared to Micro Bitcoin Futures.The largest traders have a significant influence on the market, holding a considerable portion of the positions.Please note that the COT report provides insights into the positions held by different types of traders but does not indicate future price direction or market trends. It is one of the tools used to analyze market sentiment and positioning.