[CryptoQuant Founder: CME Hedge Funds Unusually Turn Net Long on BTC Futures, Whales Are Bullish on Bitcoin] CryptoQuant founder Ki Young Ju stated that hedge funds on CME have turned net long on BTC futures, which is a rare occurrence. Basis trading typically leads hedge funds to structurally hold short positions, which is why related data has remained negative for years. However, basis trading cannot be conducted in a net long position. Institutional investors are betting on BTC's rise.