the position of Bitcoin futures at the Chicago Mercantile Exchange (CME) indicates that the market situation is changing, as a group of traders seem to be reducing their positions, which may indicate a cautious attitude or profit-taking after a strong rally. Data shows that the behavior of asset management companies and other participants is diverging, with the net long position of asset management companies reaching a peak of $6 billion at the end of 2024, but has since been significantly reduced to around $2.5 billion. On the other hand, the net long position of the "other" category (which may include retail investors and small institutions) has sharply increased, reaching around $1.5 billion, the highest level in over a year, indicating a resurgence of bullish sentiment among non-institutional market participants.