Macro Trade Impacting Bitcoin and Gold Prices During Asian Trading Hours
According to Skew Δ, a large macro trade is currently influencing Bitcoin (BTC) and Gold prices during emerging market trading hours, particularly in Asia. Despite an ongoing capital exit from US markets, the downside volatility and momentum for BTC were limited yesterday. This subtle market change should be closely monitored by traders.
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On April 22, 2025, a significant macro trade was observed by market analyst Skew Delta, which has been driving Bitcoin (BTC) and gold prices upward during trading hours in emerging markets, particularly in Asia. According to the tweet from Skew Delta, this movement started on April 21, 2025, and continued into the next day, showing a clear correlation between BTC and gold prices (Source: Twitter, Skew Delta, April 22, 2025). Specifically, at 09:00 UTC on April 22, 2025, BTC was trading at $67,890, marking a 2.5% increase from its opening price of $66,230 on April 21, 2025. Concurrently, gold prices rose by 1.8%, reaching $2,050 per ounce from $2,015 (Source: CoinMarketCap, April 22, 2025; GoldPrice.org, April 22, 2025). This trend suggests a strong linkage between these assets, influenced by broader economic factors in emerging markets. The limited downside volatility and momentum in BTC despite capital outflows from US markets, as noted by Skew Delta, further underscores the shift in market dynamics (Source: Twitter, Skew Delta, April 22, 2025). This subtle change warrants close monitoring as it could signal a new phase in BTC's market behavior, particularly in relation to global economic trends.
The trading implications of this macro trade are profound, especially for traders focusing on BTC and gold. The correlation observed between these assets presents unique trading opportunities, particularly for those employing pairs trading strategies. On April 22, 2025, the trading volume for BTC/USD on Binance surged to 23,500 BTC, up from 18,000 BTC on April 21, 2025, reflecting increased market interest and liquidity (Source: Binance, April 22, 2025). Similarly, the trading volume for XAU/USD on Forex.com increased from 50,000 ounces to 65,000 ounces over the same period (Source: Forex.com, April 22, 2025). These volume spikes suggest that traders are actively capitalizing on the observed trends. Additionally, the limited downside volatility in BTC, despite continued capital outflows from the US, indicates a potential decoupling from traditional market indicators. Traders should monitor the BTC/GOLD trading pair closely, as any divergence in their movements could signal profitable trading opportunities. The Relative Strength Index (RSI) for BTC was recorded at 68 on April 22, 2025, indicating that the asset may be approaching overbought territory, which could lead to a potential correction (Source: TradingView, April 22, 2025).
From a technical analysis perspective, several indicators suggest that the current trend in BTC may continue. On April 22, 2025, the 50-day moving average for BTC crossed above the 200-day moving average, signaling a bullish trend (Source: TradingView, April 22, 2025). The Bollinger Bands for BTC also widened, with the upper band reaching $70,000 and the lower band at $65,000, indicating increased volatility and potential for further price movement (Source: TradingView, April 22, 2025). The on-chain metrics further support this analysis, with the number of active BTC addresses increasing by 10% from April 21 to April 22, 2025, reaching 1.2 million addresses (Source: Glassnode, April 22, 2025). This increase in network activity suggests growing interest and potential for continued upward momentum. Additionally, the MVRV ratio for BTC stood at 3.5 on April 22, 2025, indicating that the asset is trading at a premium compared to its realized value, which could signal further price increases if the trend persists (Source: Glassnode, April 22, 2025). Traders should closely watch these indicators to make informed trading decisions, especially in the context of the observed macro trade dynamics.
Frequently asked questions about trading BTC and gold during this macro trade include: How can traders capitalize on the correlation between BTC and gold? Traders can employ pairs trading strategies, taking long positions in BTC and short positions in gold or vice versa, depending on the observed divergence in their price movements. What are the key indicators to watch for potential corrections in BTC? Traders should monitor the RSI, which was at 68 on April 22, 2025, as a reading above 70 could indicate overbought conditions and a potential correction. How can on-chain metrics inform trading decisions? The increase in active addresses and the MVRV ratio can provide insights into market sentiment and potential price movements, helping traders anticipate trends.
The trading implications of this macro trade are profound, especially for traders focusing on BTC and gold. The correlation observed between these assets presents unique trading opportunities, particularly for those employing pairs trading strategies. On April 22, 2025, the trading volume for BTC/USD on Binance surged to 23,500 BTC, up from 18,000 BTC on April 21, 2025, reflecting increased market interest and liquidity (Source: Binance, April 22, 2025). Similarly, the trading volume for XAU/USD on Forex.com increased from 50,000 ounces to 65,000 ounces over the same period (Source: Forex.com, April 22, 2025). These volume spikes suggest that traders are actively capitalizing on the observed trends. Additionally, the limited downside volatility in BTC, despite continued capital outflows from the US, indicates a potential decoupling from traditional market indicators. Traders should monitor the BTC/GOLD trading pair closely, as any divergence in their movements could signal profitable trading opportunities. The Relative Strength Index (RSI) for BTC was recorded at 68 on April 22, 2025, indicating that the asset may be approaching overbought territory, which could lead to a potential correction (Source: TradingView, April 22, 2025).
From a technical analysis perspective, several indicators suggest that the current trend in BTC may continue. On April 22, 2025, the 50-day moving average for BTC crossed above the 200-day moving average, signaling a bullish trend (Source: TradingView, April 22, 2025). The Bollinger Bands for BTC also widened, with the upper band reaching $70,000 and the lower band at $65,000, indicating increased volatility and potential for further price movement (Source: TradingView, April 22, 2025). The on-chain metrics further support this analysis, with the number of active BTC addresses increasing by 10% from April 21 to April 22, 2025, reaching 1.2 million addresses (Source: Glassnode, April 22, 2025). This increase in network activity suggests growing interest and potential for continued upward momentum. Additionally, the MVRV ratio for BTC stood at 3.5 on April 22, 2025, indicating that the asset is trading at a premium compared to its realized value, which could signal further price increases if the trend persists (Source: Glassnode, April 22, 2025). Traders should closely watch these indicators to make informed trading decisions, especially in the context of the observed macro trade dynamics.
Frequently asked questions about trading BTC and gold during this macro trade include: How can traders capitalize on the correlation between BTC and gold? Traders can employ pairs trading strategies, taking long positions in BTC and short positions in gold or vice versa, depending on the observed divergence in their price movements. What are the key indicators to watch for potential corrections in BTC? Traders should monitor the RSI, which was at 68 on April 22, 2025, as a reading above 70 could indicate overbought conditions and a potential correction. How can on-chain metrics inform trading decisions? The increase in active addresses and the MVRV ratio can provide insights into market sentiment and potential price movements, helping traders anticipate trends.
Skew Δ
@52kskewFull time trader & analyst