Leveraged funds increased their net short position in standard CME Bitcoin futures by 1,599 contracts during the week to Sept. 22, reversing the prior week’s easing. Asset managers moved in the opposite direction, adding 411 contracts to their net long. Each standard contract represents five BTC, making the funds’ weekly shift equivalent to 7,995 BTC of futures exposure, not a reported spot Bitcoin sale. Open interest rose by 1,542 contracts to 22,315, showing higher outstanding futures activity as the two trader groups repositioned differently. The CFTC (U.S. derivatives regulator) categories cover futures only and cannot establish whether funds held offsetting Bitcoin or ETF positions.