TL;DR: 🚀
You may know that large futures traders are obliged to report their positions every tuesday to CFTC and these reports are public and released every friday. These reports are known as COT. There is an indicator in TradingView called [Cot Data](https://www.tradingview.com/script/VQasmih8-CoT-Data/) that shows them. Or you can check a chart like this: [https://www.tradingster.com/cot/legacy-futures/133741](https://www.tradingster.com/cot/legacy-futures/133741)
If you look at a bitcoin chart 2-3 years back, you will notice that Commercial traders are getting long just when price starts to go up. And they get short when the pump is over. They got long in september for the pump from 53k to 107k and then in december got short. A week ago they decreased their short positions slightly and this tuesday the switched from short to long. This can be seen in Bitcoin price as volatility has decreased and we are getting higher highs.
Retail futures traders (the ones that trade small quantities and are not obliged to report) are usually net long the whole bull market, but in the past year, there have been to occasions when their longs declined to 0: during the big dip to 50k in august and this week :)
As a side note, the fact that stock markets are up this week despite high CPI and more negative tariff news is also a positive sign.