View the interactive Top Signal Dashboard here. Delphi’s Bitcoin Top Signal, which measures the ‘top-like’ conditions of Bitcoin, has been fairly flatlined in 2025; we’ve been in an intensity range o...

...tone from the EF and the Ethereum community is also partially influenced by the lack of performance of ETH...To the credit of the ETH-maxis, yes maybe we could refer to it as a “reprioritization” – mainly because...The issue was miscalculating the implications it would have on ETH as an asset.

...thinking a lot about how Bitcoin behaves across macro regimes, and I keep coming back to one core view: 👉 BTC...To put it simply, I am seeing BTC as a function of liquidity in the market....BTC = f(Liquidity)ⁿ, where ⁿ = rate of change of liquidity When liquidity moves slowly, BTC moves....When liquidity accelerates, BTC rips.

The goal is to quantify how BTC typically behaves after periods of emotional dislocation – defined by...Across 7 triggers, BTC saw a median return of +6.2% by Day 5, with 86% finishing green....Adding a trend filter (BTC above 1D 20SMA) lifts Sharpe from 0.82 to 1.33, though that subset includes...The goal is to quantify how BTC typically behaves after periods of emo...

...been recording seismic activity in our Top Signal for a few weeks now, and are now seeing the price of BTC...As I highlighted the other day in another AF post, the alignment of BTC price action with Global M2 (...The situation for the rolling 30-day returns of BTC has materially improved from earlier this year as...

...indexer frBTC: a fully reserved wrapped bitcoin Native AMM (Currently under development): Will trade BTC...you first for Diesel airdrops Conclusion Bitcoin is simply dominating crypto right now, most alt/btc...pairs look horrendous and as BTC dominance only continues to trend upwards developers/builders will...

We are entering a rare four-day stretch where the mean and median returns for BTC in April are nearly...

Just a quick observation that over the past four weeks, Mondays have consistently been risk-on for Bitcoin. There are still a few hours left before the close, but should we remain above $83,600.82 du...

One thing to note is that all the L2s reaching for giga gas throughput have opted for an external data availability solution. This is because one of the main bottlenecks to scaling beyond giga gas/s i...

Once that pressure resolves to the upside, BTC will not move slowly. 1....Until it gives way, BTC remains “capped”. But the signal is not bearish either....and ETH, is following a near-perfect fractal of previous expansion phases....BTC vs Gold: Structural Trend Intact BTC/Gold remains one of the cleanest relative expressions of liquidity...

...the “blue chip” meme segment DeFi showing selective strength in both Ethereum and Solana ecosystems ETH.../BTC ratio described as structurally weak and not compelling for allocation Technical Outlook Multiple...

TLDR Hope Metric Score: 58.1 (Neutral-Cautious Optimism) BTC ETF Inflows: +$1.37B last week ETH...BTC / ETH ETF Flow Context ETF flows returned in force last week, marking a potential shift in capital...Rather than signaling a rotation out of BTC, the simultaneous strength across BTC and ETH suggests a...

While ETH ETF demand cooled to +$21.4M from last week’s massive $528M, flows remained positive, and the...BTC / ETH ETF Flow Context ETF flows remain a focal point for gauging institutional sentiment  and last...If BTC flows hold above $1B for a third week, and ETH flows stay net positive, the market would have...

(dMPC) technology and the transformative applications it enables, with a focus on Zenrock’s wrapped BTC...The Orbit Bridge hack on December 31, 2023 cost $82 million in ETH, USDT, USDC, WBTC, and DAI due to...The minting and redemption processes are permissionless, allowing anyone to lock BTC and receive tBTC...

BTC Spot ETFs — Summer Starts With Massive ETF Flows Reminder, Delphi’s BTC Spot ETF Flow Tracker can...these metrics and how BTC reacts in the coming days....BTC Market Structure — Compressing The Spring With such impressive flows, what gives?...When you look at BTC, last week’s pullback is barely noticeable.

While BTC remains the dominant allocation vehicle, ETH ETFs are beginning to attract structural flows...While the scale is considerably smaller than BTC ETF flows, the ETH trend has shifted from stagnant to...From a YTD perspective, ETH ETFs have remained structurally quieter than their BTC counterparts.

ETH ETF Approval Shakeup?...According to Eric Balchunas, Senior ETF Analyst with Bloomberg, it appears as though odds for the ETH...BTC Spot ETFs — Bulls Take The Wheel Reminder, Delphi’s BTC Spot ETF Flow Tracker can be found here....surge in BTC price fueled by these impressive ETF numbers.

BTC is now trading at range highs near $104K with ETH well above $2K for the first time in many months...

Been tracking the TOTAL3 chart (total crypto market cap excluding BTC and ETH), and there’s a structural...

...standard, using convertible bonds and at-the-market equity programs to accumulate billions of dollars in BTC...bonds, deployed at-the-market equity programs, and used nearly every dollar raised to acquire more BTC...has added to its Bitcoin position in every quarter since Q3 2020, ultimately acquiring over 550,000 BTC...