Wall Street’s Bitcoin bears quietly retreated despite recent plunge toward $80,000
CFTC data for Oct. 13 show rising spread legs lifted gross longs despite fewer outright longs, without establishing spot buying. Read the full story on CryptoSlate Understand the crypto stories that matter and what to watch next. Get The Catalyst in your inbox
AI summary
CFTC positioning data for Oct. 13 shows that while outright long Bitcoin positions declined, rising spread legs lifted gross longs, suggesting bears pulled back rather than bulls stepping in. The data does not establish actual spot buying, so the shift reflects derivatives positioning rather than fresh demand. Traders should treat this as a positioning signal, not confirmation of a bullish reversal, especially after Bitcoin's slide toward $80,000.
