Institutional investors and knowledgeable market participants have placed the highest bullish bets on BTC futures in history

As the deadline for the approval of a Bitcoin ETF approaches, smart money from institutional investors and knowledgeable market participants is pouring into Bitcoin. The "Bitcoin Futures Smart Money Index" on data tracking website MacroMicro rose to 13,711 points last week, surpassing the previous peak of 13,603 points, indicating that asset management companies and other reporting institutions have reached record levels of net long positions. This index tracks the spread between long and short positions held by large investors on the Chicago Mercantile Exchange. The indicator is based on weekly trader commitment reports from the CFTC.