In the latter half of June, commercial traders on the CME trading Bitcoin futures closed most of their short positions and aggressively built up long positions upon bullish Bitcoin adoption news in the industry. This shift in sentiment represents the most bullish market sentiment since 2023, with commercial traders' net long positions reaching a yearly high.

Despite this positive bullish sentiment, the SEC has not approved the Spot Bitcoin ETF yet. $BTC being a volatile asset could fluctuate rapidly and unpredictably based on a variety of factors...It's always important to take profits, manage risks and preserve capital because this is a long game.