Impending Volatility Supression = Strong 'Long' Bias for BTC
Commitment of Traders report sets liquidity providers in the bottom 4% of their historical 'Long' volatility positioning. This is an extremely strong signal for short volatility which has strongly related to volatility suppression in the past.
Short Volatility = Long Assets. With the recent correlation of 0.85 to global markets, BTC may be seeing reduced implied volatility in the VERY near term. This means LONG BTC and all strongly correlated coins in the near term.
*Near term being the next ~30 days
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