Wall Street is betting longer than at any time since bitcoin futures began in 2018.

That’s according to the latest data from the Commodities Futures Trading Commission (CFTC) released this Friday.

They reveal that 9,564 bitcoin contracts are long and 8,758 are short. Making it a net long of 806 contracts, the highest on record and up from 703 net long contracts the previous week.

Each contract is equivalent to 5 bitcoins. So 4030 bitcoins are net longs, or $120 million is betting that bitcoin will rise more than it will fall.

This comes after a brief dip to $25,000 on high volumes, with a rebound to near $30,000 where bitcoin has been sitting for a while.

This mini-side is in the middle of eight weeks of red, with bitcoin seemingly finding some sort of bottom at least for now as the dollar strength index falls more than at any time since it began. started its bull run last year.

Dollar long bets also fell to $19.75 billion in the week ended May 17 from $19.82 billion the previous week.

An expected rate hike in Europe in July contributed to the fall, but gas rose further to $9.30, rising another 5% today to its highest level since before the 2008 crash.

Markets now seem to have adapted to this with the Nasdaq a little green today as Europe turns to helicopter money, with households expected to receive between €200 and €800 to offset the cost of rising oil prices. gas.

This should act as some sort of stimulus, with some of those checks perhaps heading into bitcoin and possibly stocks.

So the smart money, both on Wall Street and on Bitfinex where longs have doubled, is betting.