Indicator Overview

The ETF Volume is a liquidity model designed to track the institutional footprint of the Spot Bitcoin ETF ecosystem. This indicator utilises a multi-asset aggregation engine to calculate the total traded volume across all major Bitcoin ETFs, including IBIT, FBTC, ARKB, and GBTC, viewing them as a single, unified block of market liquidity.

By overlaying this aggregate volume against a log-scale price proxy, the model reveals whether price moves are being driven by structural institutional demand or thin-order-book volatility.

How To Use

The ETF Cumulative Volume serves as a macro-liquidity roadmap, highlighting where the institutional money is most active within the ETF wrapper.

• The Combined Mode (ETF Ecosystem): By selecting the "COMBINED" option, you can monitor the aggregate health of the Spot Bitcoin market. Rising volume levels during a price consolidation often signal institutional accumulation, while high-volume spikes at price peaks typically indicate an exhaustion of buy-side demand.

• The Volume Gradient (Intensity Scale):

• Peaks: These represent the highest levels of traded volume. In the ETF context, these peaks often occur during major market events or institutional rebalancing.

• Troughs: These signal periods of low liquidity or wait-and-see behaviour from major funds.

• SMA (Volume Trend): The SMA line (Simple Moving Average) is used to identify shifts in the volume trend. When the current volume stays consistently above the SMA, it confirms an expansion in liquidity, a classic hallmark of a healthy, trending bull market. Conversely, volume falling below a long-term SMA often suggests a transition into a distribution or range-bound phase.