Bitcoin held above $80,000 this weekend while several institutional indicators pointed in different directions. CFTC data as of Sept. 15 showed leveraged funds reduced their net short position in Bitcoin futures by 7,275 BTC-equivalent, while asset managers reduced their net long positions by 4,733 BTC-equivalent. US spot Bitcoin ETFs recorded inflows of $592.5 million on Sept. 17-18, but only $6.1 million for the full week. The data do not establish that the change in futures positions caused Bitcoin’s move or that broad institutional demand has returned.
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