CriptoQuant admits the incorrect interpretation of the CME hold: the BTC leveraged funds as a whole have not changed

On 11 August, Chief Executive Officer Ki Young Ju of Crypto Quant sent a letter correcting a previous misinterpretation of CMEbitcoin futures data. He had previously called leverage funds a net multiplication, but the actual data (CFTC, as of 4 August) showed that the data were “general report holding” and covered all large institutional traders (including asset management companies, dealers, etc.) rather than leverage funds. The corrected data indicate that the master report is in a mild and net surplus, and that the leverage fund is still in a net deficit on standard BTC futures, but has been reduced by about 50 per cent over the past year in terms of BTC and has weakened by the trade advantage of the base margin (the base is lower than the national debt return). Its net excess on the Micro BTC futures was only +394 BTCs of small size. Ki Young Ju states that the leverage fund as a whole has not changed, but that the structural void is fading and may reflect arbitrage trade flats and directional adjustments。