Hedge funds are wagering that Bitcoin’s free-fall will keep going.
Leveraged funds, which include hedge funds, held 2,974 short positions in Cboe Global Markets Inc.’s Bitcoin futures as of Jan. 30, a fivefold jump from the prior week. Long bets dropped to 895 contracts, down 22 percent from a week earlier, according to weekly data released Friday by the U.S. Commodity Futures Trading Commission.
Bitcoin’s already lost more than half its value since mid-December. Cryptocurrencies have been pummeled by a wave of bad news, including the threat of more regulation from governments including the U.S., China, South Korea and ...
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