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Forget ETFs; instead, every Bitcoin trader should follow this data point

Author

Markus Thielen
April 07, 2024

Trade Smarter, Not Harder: Leveraging RPCs for Competitive Advantage

QuickNode RPC enables seamless interaction with blockchain data, facilitating swift transactions and smart contract executions. This powerful tool empowers users to build dynamic DeFi applications, optimize trading strategies, and incorporate blockchain technology into their digital infrastructure, all while ensuring data accuracy and operational efficiency. QuickNode is the fastest provider and the expert in performance.

👇1-11) After being massively bullish since January 25, we turned cautious precisely a month ago (March 8) as the forward returns appeared unpredictable based on the market's technical setup. Trading (crypto) is about risk-reward and knowing when to bet big and when to bet small, and the last thirty days were indeed a period when to bet small. But this will change soon.

👇2-11) Our trading signals have expressed a similar message. After generating double-digit returns between January and early March, the last three weeks have seen some single-digit losses, with the jury still out on how those trades will finish when their projected trade horizon for those positions ends. Instead of being 100% long or short, the model is only 38% net long. Positioning is light, but this will change soon, too.

Forget the Bitcoin ETF flows; there is a NEW Sheriff in town.

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