Back to Bullish? - Market Update - 4-23-25

Positive Momentum, Performance Dashboard, Expected Moves

*|MC_PREVIEW_TEXT|* Hello my tasty friends, please find our mid-week update below. Back to Bullish? Can it be? Is that really green on the screen? Why yes it is. Back above 90k my tasty friends. Let's jump into what we're seeing.  Regardless of the daily headline risk, BTC and some pockets of the crypto market are starting to clearly decouple from recent cross-asset class bearishness. Price momentum has shifted from bearish to bullish for BTC and SOL, while we're even seeing ETH and DOGE move back into neutral territory.  Remember, crypto is largely driven by financial market conditions, monetary policy, and global liquidity. There are no earnings or supply chains to be worried about. For what it's worth, BTC triggered a bearish momentum signal on Feb-5, almost a full month before SPY. Maybe it's a leading indicator?  We've seen a meaningful shift in the market as Bitcoin, Solana, Bitcoin Cash, and XRP are now signaling bullish daily momentum, while ETH, LTC, and DOGE have moved from bearish to neutral.  Across assets we're not yet seeing similar signals, but we're on watch. Equities are still bearish momentum while volatility is bullish. So, I'm hesitant to say the sell-off is over until we get this confirmation, but it's looking... better.  Volatility implied trading ranges (expected moves) are also confirming the recent bullishness we're seeing. The top of the weekly BTC one-standard deviation move is back above 100k, as the low-end of the range moves back to the mid-80s.  On a relative basis, both BTC and SOL are trading better than ETH, but we know how quickly it can all change. Until ETH momentum shifts, I'm mostly trading BTC and SOL ranges.  Correlations: Updated - 4/23/25 - 6:00 AM CT Relative performance (weekly): ETH/BTC  1% SOL/BTC  8% SOL/ETH  6%   The tastycrypto Show: Mondays & Wednesdays from 4:30pm - 5:00pm Central BAG BATTLES: Mondays on the OTC Live Show from 11am - Noon Central LIVE on YouTube | LIVE on X | LIVE on tastylive Contact |  Blog  |   Learn If you no longer want to receive our communications, please click here. tastycrypto is provided solely by tasty Software Solutions, LLC. tasty Software Solutions, LLC is a separate but affiliate company of tastylive, Inc. and tastytrade, Inc. Neither tastylive, Inc. nor tastytrade, Inc. are responsible for the products or services provided by tasty Software Solutions, LLC. Cryptocurrency trading is not suitable for all investors due to the number of risks involved, including volatile market prices, illiquid market conditions, lack of regulatory oversight, market manipulation, and other risks. tastylive, Inc., 19 N. Sangamon St., Chicago, IL 60607, United States