CFTC data as of Aug 4 shows Total Reportables modestly net long BTC futures while leveraged funds cut net shorts 50% over the past year.

Bitcoin hedge funds on CME flipped net long futures, a rare move against the basis trade that kept positioning negative for years except during the 2025 $75K-$125K breakout.

Speculators go net long on Bitcoin, mirroring 2023 setups before major rallies, amid two-month range and volatility signals pointing to potential upside to $80-85K.