Bitcoin overtakes 'long tech' as most crowded trade - BofA survey

FILE PHOTO: A representation of virtual currency Bitcoin is seen in front of a stock graph in this illustration taken November 19, 2020. REUTERS/Dado Ruvic/File Photo

LONDON (Reuters) - A long position on bitcoin overtook "long tech" as the trade fund managers said was the most crowded in January, Bank of America's monthly fund manager survey showed on Tuesday.

For the first time since October, a long position on technology companies was knocked off the top spot, as investors said that long bitcoin was the most crowded trade. A short position on the U.S. dollar was seen as the third most crowded.