CryptoQuant CEO Ki Young Ju corrected his previous interpretation of CME data, stating that as of August 4th,…

CryptoQuant CEO Ki Young Ju corrected his previous interpretation of CME data, stating that as of August 4th, CFTC data showed that "large reportable traders" as a whole held only a small net long position in BTC. This includes asset management firms, traders, and other large participants, and does not refer solely to hedge funds. Leveraged funds remain net short on standard BTC futures, but their net short position in BTC has shrunk by approximately 50% over the past year, primarily due to the decreased attractiveness of basis trading and the futures basis being lower than the US Treasury yield. Their net long position in micro BTC futures is only about 394 BTC, with a limited impact.