A rare CME shift: Hedge funds abandon structural shorts to bet on a bitcoin rally
CME leveraged funds turn net long as weak futures yields undermine the once-popular basis trade.
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Summary
- CryptoQuant CEO Ki Young Ju says leveraged funds are now net long CME bitcoin futures, a rare shift after years of structural short positioning.
- Leveraged funds have historically remained net short CME Bitcoin futures because of the basis trade of buying spot bitcoin or ETFswhile simultaneously selling futures.
- With the futures basis yielding less than U.S. Treasuries, basis trades are unwinding as bitcoin rebounds from $58,000 to around $65,000.
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Zcash’s Tachyon upgrade aims to scale shielded payments, improve quantum readiness, and test whether its funding, security, and governance can hold.
Zcash’s Tachyon upgrade aims to scale shielded payments, improve quantum readiness, and test whether its funding, security, and governance can hold.
Why it matters:
Zcash’s Tachyon upgrade aims to scale shielded payments, improve quantum readiness, and test whether its funding, security, and governance can hold.
