Our BTC call-put spread, which gauges the delta of implied volatility between call and put options, has been the top-performing tactical indicator live and out-of-sample since January 2023. This indicator signals about four times a year, and its average return to max price drawdown ratio is 1.9x. It registered negative BTC at the end of last month, April.

The BTC Price Momentum is the average return trend of BTC prices over various lookback periods. Because crypto prices are reflexive, it is useful as a risk signal (green threshold = risk-on, pink threshold = risk-off).

The 30-day rolling average of new wallets is coincident with crypto prices.

The crypto ecosystem is receiving new inflows