Update on $BTC diamond bottom pattern

The diamond bottom pattern looks much better on $BTC

$ETH options market could be complacent bc IV keeps bleeding, term structure is flat, spot-vol correlation is deeply negative and nobody wants to pay for short dated protection. We've been conditioned to expect nothing, which is usually when something big finally happens.

$ETH forming kind of a wonky diamond bottom

I don't think it works as a H\&S bc there's no neckline

$ETH I've marked the trends for spot and futures CVDs versus price. Aggregated CVDs trending down, price trending up. Also take notice of the spot bid \& ask delta sitting mostly in bid delta (more buy orders).

Context: saw a couple of msgs posted on telegram groups that said, "My friend who works for a big institution advised me to sell my $ETH immediately, it's going to dump and they're short yadda yadda." Then I saw a tweet where similar msgs were DM'ed on X, too lol coordinated FUD

Another rounded top $ETH

Interesting, inflows for $ETH but not $BTC ETFs

$BTC this chart visualises it better. Aggregated futures CVD has been flat/trending slightly down while aggregated spot CVD has been trending up. That is bullish. Coinbase premium is trending back up toward zero Aggregated funding is negative Spot bid/ask delta is bid

$ETH testing multi year mid range for resistance. Either this will reject and things will get ugly, or it'll punch through. Can't say which is more likely atm, especially since spot demand doesn't look great

$BTC looking so much better vs $ETH!! Spot buying happening across all exchanges. Aggregated spot CVD shows net taker buys of 2,900 $BTC in the last 7 hours. OI unwound on the way up And funding is neutral but negative! Nice

If $BTC continues like this, then it should take $ETH up with it eventually

Modified the depth chart and added order size distribution visualiser like an old school stereo equaliser lol $ETH

Gemini and Coinbase selling $ETH spot at top of this leg up

Also keep in mind the CME data has a 10min delay unless you subscribe to it via TV

Wtf is going on here? Someone keeps transferring this 53K of $ETH multiple times a minute

$BTC OTOH, is showing spot buying on Coinbase. Aggregated CVD been trending up since the 21st