₿ Crypto Futures Positioning
CFTC weekly report · Report Date: 2026-03-17
Bitcoin Futures
BEARISH2-year weekly history · Speculator, commercial, and small trader positioning
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Flow Signal
BEARISH
Distribution phase — commercials selling Bitcoin into speculator demand.
Spec:
1,773
(+471)
·
Comm:
-1,862
3Y Percentile
97%
Latest Week
Speculator Net
1,773
Commercial Net
-1,862
Small Trader Net
89
Long/Short Ratio
1.12
Open Interest
23,807
Total Traders
127
Ether Futures
BULLISH2-year weekly history · Speculator, commercial, and small trader positioning
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Flow Signal
BULLISH
Commercials accumulating Ether while speculators exit — smart money positioning bullish.
Spec:
2,147
(-93)
·
Comm:
-2,365
3Y Percentile
84%
Latest Week
Speculator Net
2,147
Commercial Net
-2,365
Small Trader Net
218
Long/Short Ratio
1.1
Open Interest
38,577
Total Traders
100
Micro Bitcoin Futures
BEARISH2-year weekly history · Speculator, commercial, and small trader positioning
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Flow Signal
BEARISH
Distribution phase — commercials selling Micro Bitcoin into speculator demand.
Spec:
-5,040
(-336)
·
Comm:
334
3Y Percentile
23%
Latest Week
Speculator Net
-5,040
Commercial Net
334
Small Trader Net
4,706
Long/Short Ratio
0.73
Open Interest
24,583
Total Traders
231
Micro Ether Futures
CAUTION2-year weekly history · Speculator, commercial, and small trader positioning
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Flow Signal
CAUTION
Both commercials and speculators adding Micro Ether — crowded, late-cycle caution.
Spec:
-3,303
(-238)
·
Comm:
958
3Y Percentile
21%
Latest Week
Speculator Net
-3,303
Commercial Net
958
Small Trader Net
2,345
Long/Short Ratio
0.93
Open Interest
55,455
Total Traders
293
Solana Futures
WASHOUT2-year weekly history · Speculator, commercial, and small trader positioning
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Flow Signal
WASHOUT
Washout in Solana — both sides reducing exposure, potential bottoming.
Spec:
1,226
(-58)
·
Comm:
-1,161
3Y Percentile
45%
Latest Week
Speculator Net
1,226
Commercial Net
-1,161
Small Trader Net
-65
Long/Short Ratio
1.12
Open Interest
16,196
Total Traders
44
XRP Futures
BEARISH2-year weekly history · Speculator, commercial, and small trader positioning
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Flow Signal
BEARISH
Distribution phase — commercials selling XRP into speculator demand.
Spec:
875
(+9)
·
Comm:
-725
3Y Percentile
100%
Latest Week
Speculator Net
875
Commercial Net
-725
Small Trader Net
-150
Long/Short Ratio
1.15
Open Interest
8,749
Total Traders
33
How to Read COT Data
Speculators (Non-Commercial)
Hedge funds, CTAs, and momentum traders. They follow trends and amplify moves. When their positioning reaches extremes, it often signals the trend is crowded and vulnerable to reversal.
Commercials (Hedgers)
Producers, refiners, and consumers who use futures to hedge their business. They tend to be contrarian — selling into rallies and buying dips. At extremes, they're historically on the right side.
The Percentile Bar
Shows where current speculator positioning ranks vs. the past 3 years. Above 80% = historically bullish, below 20% = historically bearish. Extremes (top/bottom 10%) are the highest-signal readings.
What To Watch For
The best signals come from extreme positioning + divergence: when speculators are max long but commercials are max short, it often precedes a reversal. The weekly change shows who's adding or liquidating.
Source: U.S. Commodity Futures Trading Commission (CFTC) Commitments of Traders reports. Data is published weekly with a 3-day lag.