@ben Not so much a new metric, but I'd like to zoom out and reassess where we stand. Netflows are interesting but pretty short term. Maybe look into MVRV Z, S2F(X), RHODL, and longer term on-chain metrics.
Hey, this is very true and a great point. Derivative exchanges have spot markets and we don't know that large inflows are definitely selling pressure. It's about confluence, when combining TA, netflows and the large inflows, there's a higher probability of a successful trading setup.
Even if BTC turns up on derivative exchanges, the most likely reason is to be sold. Likewise if stablecoins turn up on derivative exchanges, the most likely thing is to be used for buying. We can definitely speculate a lot about the "real" use for them but often you'll see the market reacts anyway.
@ben Not so much a new metric, but I'd like to zoom out and reassess where we stand. Netflows are interesting but pretty short term. Maybe look into MVRV Z, S2F(X), RHODL, and longer term on-chain metrics.
good hindsight analysis. another analyst that predicted the future
Excellent! Thanks guys!
Nice “hindsight trading”.
Easy to write up something after the fact.
I’d encourage you to read his previous work. He nailed ETH last week... and he’s nailing BTC right now if you take a look at price action.
He’s only showing you what happened in order to get you the where we are going
Hey, this is very true and a great point. Derivative exchanges have spot markets and we don't know that large inflows are definitely selling pressure. It's about confluence, when combining TA, netflows and the large inflows, there's a higher probability of a successful trading setup.
Even if BTC turns up on derivative exchanges, the most likely reason is to be sold. Likewise if stablecoins turn up on derivative exchanges, the most likely thing is to be used for buying. We can definitely speculate a lot about the "real" use for them but often you'll see the market reacts anyway.
In this market, the perception is more important than the "real" use.