According to CoinMeta, Wu said that CryptoQuant CEO Ki Young Ju has corrected its previous interpretation of CME data, stating that as of August 4th, CFTC data shows that "large reportable traders" as a whole only had a small net long position of BTC, which includes asset management institutions, traders, and other large participants, and does not refer solely to hedge funds. Leveraged funds are still in a net short position on standard BTC futures, but the scale of their net shorts has decreased by about 50% over the past year according to BTC. This is mainly due to the reduced attractiveness of basis trading and the fact that the futures basis is lower than the yield of U.S. Treasury bonds. Their net long position on micro BTC futures is only about 394 BTC, so the impact is limited.