Looks Like BTC is Back on the Menu

The net flows into Bitcoin ETFs approached $1B yesterday ($912.7M for exactness), which was the largest inflow seen since January 17, 2025.

BTC ETF Flows as of April 22 2025

We’ve been recording seismic activity in our Top Signal for a few weeks now, and are now seeing the price of BTC react to the upside.

Delphi BTC Top Signal as of April 22 2025

As I highlighted the other day in another AF post, the alignment

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thanks.
I'm really curious about how the signal intensity chart works.

It is an internal indicator that we are still developing - will be released in a dashboard format when we are ready!

It looks at various onchain indicators, sentiment type indicators, and macroeconomic indicators. We then normalize and aggregate into one top line score "Signal Intensity" (0-100).

The more intense the indicator, the more 'top-like' conditions we are seeing in BTC. The inverse is also true...the less intense the indicator, the more 'bottom-like' conditions we are seeing.

The % change in indicator intensity is also quite useful as well when trying to get a bit more surgical in locating tops, bottoms, and periods when a shift in direction is more likely to occur.