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Crypto researcher Trade The Flow on Thursday offered trading ideas to navigate the current sideways price action in the crypto markets.

What Happened: Trade The Flow suggested that long/short pair trading could be an effective strategy in these choppy conditions and offered several trade ideas.

Among his suggestions were long positions on Bitcoin BTC/USD and Ethereum ETH/USD, paired with short positions on Litecoin LTC/USD and Cardano ADA/USD, respectively. He reasoned that BTC and ETH are leading the market and have potential catalysts ahead like the Ethereum ETF, while LTC and ADA lack network effect and real activity.

Among his many strategies, he suggests longing Pendle PENDLE/USD, and shorting Ondo Finance ONDO/USD. Although both have similar narratives there are huge discrepancies in their protocol metrics.

In the meme coin universe, he includes longing Pepe PEPE/USD and shorting Shiba Inu SHIB/USD, as the former is the most established meme of crypto culture that continues to catch a lot of market attention. Shiba Inu's time has passed in his opinion.

Meanwhile, on the PEPE/ETH pair, the trader stated, "If you see PEPE as a high beta for ETH, then this pair trade can smoothen a bit your drawdown if the market is down, but you still have a lot of upside if it goes up."

Also Read: Heres How Bitcoin And Altcoins Will Behave Until Fed Cuts Rates, According To Veteran Crypto Analyst

Why It Matters: Trade The Flows insights provide a unique perspective on the current market conditions and potential trading strategies. His suggestions for long/short pair trading could help traders navigate the markets volatility and potentially generate profits even in a bearish market.

However, as with any trading strategy, traders need to do their research and consider their risk tolerance before making any trades. As Trade The Flow himself noted, "There are infinite combinations of pair trade, and this is just a glimpse of some of them."

The trader added that these types of trades enable to be more market neutral and smoothen profit & loss to the downside and build a bigger position.

Whats Next: The influence ofBitcoin as an institutional asset classis expected to be thoroughly explored at Benzingas upcomingFuture of Digital Assetsevent on Nov. 19.

Read Next: Raoul Pal Foresees Crypto Boom In Election Years Q4, Names It Banana Zone

This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Image: Shutterstock

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Top Trader Is Long Bitcoin, Ethereum, Short Litecoin, Cardano...And Thinks Shiba Inu's Time Has Passed - Benzinga

Bitcoin's recent weakness could be signaling an upcoming correction in stocks, according to Stifel's chief equity analyst Barry Bannister. Bitcoin reached its all-time high of $73,797.68 on March 14 before quickly correcting, and it has struggled to hold the $70,000 mark since, barring a handful of blips. On Thursday, the S & P 500 briefly touched 5,500 for the first time after notching its most recent record close earlier in the week. Historically, the S & P 500 averages flat for about six months after bitcoin peaks, and past cycles point to a topping in the benchmark stock index, Bannister said in a note Wednesday. "Weakening bitcoin signals an imminent S & P 500 summer correction and consolidation phase," he said. "With the S & P 500 now at the very high end (2 sigma) of bitcoin post-peak cycle overlays since 2011, we have yet another strong signal that an imminent S & P 500 correction is possible." He added that high beta tech stocks such as Nvidia are especially vulnerable heading into the third quarter. The S & P 500 could fall to 4,750, a roughly 13% drop from current levels, by the end of the summer, he told CNBC's "Closing Bell Overtime" earlier this week. Many see bitcoin as "digital gold," but Bannister said he sees it as a speculative instrument driven by excess dollar liquidity. As such, it's always been sensitive to dovish Federal Reserve pivots. In 2020, it became closely correlated with the Nasdaq 100 when the central bank injected trillions of dollars of rescue money into the economy during the Covid-19 crisis. Currently, the market finds itself in an asset bubble now that the "corona-cash" has migrated from consumers to corporations. "Mopping up that liquidity has just begun (and may never be accomplished), but since that dump we have seen politically destabilizing sequential bubbles which first inflated consumer prices and now asset prices," Bannister said. Expectations for a summer correction aren't based on bitcoin alone, however. Stifel said he expects "a case of moderate stagflation" a combination of high inflation, high unemployment and stagnant demand to tighten financial conditions and expose the S & P's high price-earnings ratio. Bannister also said investors may be in a "full-fledged bubble/mania mode which looks past our concerns." "Timing is everything," he wrote. "Past bubbles since the 19th century indicate the S & P 500 could well rise to ~6,000 at year-end 2024 and then round trip to near where 2024 began five quarters later, by ~1Q26 (S & P 500 ~4,800)."

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Bitcoin's recent weakness signals an imminent S&P 500 correction, according to Stifel - CNBC

The European Union securities watchdog is asking stakeholders whether it should include crypto assets into investment products a move that could enable crypto to tap a market bigger than spot Bitcoin exchange-traded funds.

The European Securities and Markets Authority is asking industry and experts to provide input on expanding the assets eligible for the network called Undertakings for Collective Investment in Transferable Securities, or UCITS.

The move opens the door to broader access to cryptocurrencies via UCITS, a 12 trillion market.

If ESMA is convinced, it would be the final step in mainstreaming crypto assets in Europe, financial regulation expert Sean Tuffy told DL News, calling it a potential game changer.

It comes on the back of the US and Hong Kong regulators approving Bitcoin ETFs this year, highlighting how traditional financial players are muscling into crypto.

In the US alone, funds run by the likes of BlackRock and Grayscale each raked in roughly $18 billion since January becoming a key driver of the Bitcoin rally in the first quarter of 2024.

However, approval is not a forlorn conclusion.

ESMAs call for stakeholder input is open until August 7.

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The impact would be more significant than the US ETFs, Andrea Pantaleo, a lawyer specialised in crypto regulation and litigation at DLA Piper, told DL News.

Because there could be plenty of fund compartments interested in investing small percentages of liquidity in crypto-assets.

There are several reasons why accessing UCITS could prove a boon for the industry.

UCITS investments are made up of many different categories for funds which have different assets allocated to them depending on their risk and profile.

There is another way the EU framework could benefit crypto: Authorisation is not required for each time a fund invest in crypto-assets, and this would also benefit market liquidity, Pantaleo said.

In the US, ETFs are based on single assets which regulators need to authorise.

But in Europe, UCITS investment funds can allocate liquidity to more crypto assets without obtaining authorisation beforehand for each one.

UCITS funds have specific investment limitations depending on the type of assets, Pantaleo said. We wont have a 100% crypto UCITS fund, but hopefully many investment funds could hold 1-2% of their liquidity in crypto.

While investors can trade Bitcoin exchange-traded products in the EU, they havent been as popular as their US counterparts. Asset managers in the EU already offer ETPs which behave like ETFs.

But there is a long way to go before crypto assets are potentially included into the framework.

The only issue could be custody, Pantaleo said, as the regulation on depository banks for funds should be coordinated with crypto-assets custody.

The EU bloc is rolling out its legal framework for crypto over the coming years known as the Markets in Crypto-Assets regulation, or MiCA. For custodians, MiCA lays down rules for segregation of assets and policies for safekeeping.

Crypto assets involved in UCITS would likely need to comply to the same rules.

To this effect, the ESMA has also asked for specific feedback on how adding specific cryptocurrencies to the framework would or wouldnt be affected by MiCA.

The process of updating the UCITS eligible assets rules is not quick and will be subject to a lot of negotiation, Tuffy said.

Weve got a long road to go before well know if crypto will be allowed into UCITS.

Inbar Priess is a Regulation Correspondent at DL News. Got a tip? Email her at inbar@dlnews.com.

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EU mulls adding crypto in 12tn investment market bigger than Bitcoin ETFs - DLNews

The launch of spot Bitcoinexchange-traded funds (ETFs) in the United States has proved hard to follow as Hong Kongs new Bitcoin and Ethereum ETFs hit $12 million in trading volume.

Spot Bitcoin (BTC)and Ether (ETH) ETFs finally hit Hong Kong markets, but trading volumes suggest that the launch of spot Bitcoin ETFs in the United States set an exceptionally high bar to match.

The six new crypto ETFs total trading volume at the closing bell on day one in Hong Kong was 87.58 million Hong Kong dollars ($12 million). This number pales compared to the first-day trading volume of U.S. spot Bitcoin ETFs, valued at $4.6 billion.

Data shared by the Hong Kong Stock Exchange (HKEX) highlighted the relatively flat performance and interest in the six spot Bitcoin and Ether (ETH) ETFs managed by China Asset Management, Harvest Global, Bosera and HashKey.

The Bosera HashKey Bitcoin ETF recorded 249,000 HK$ in first-day trading volume, while the Bosera HashKey Ether ETF produced 99,000 HK$ in trading volume at the closing bell.

Related:Hong Kong Bitcoin and Ether ETFs officially approved to start trading on April 30

The China Asset Management (CAM) Bitcoin ETF fared far better, seeing 4.6 million HK$ in trading volume. Trading had opened at 8.080HK$ and closed at 7.950 HK$. CAMs Ether ETF recorded 4.6 million HK$ in trading volume by the closing bell.

Wu Blockchain had previously reported that CAM subscription size for its spot Bitcoin and Ethereum ETFs attracted $140 million during the initial offering period before trading began.

HKEX previously highlightedinvestor interest in its cryptocurrency futures ETFs, which were first launched in late 2022. Its three VA Futures ETFs attracted $529 million in net inflows in the first quarter of 2024 - adding to the hype around the spot BTC and ETH ETFs launch on April 30.

The South China Morning Post reported that local fund managers and brokerages are offering fee exemptions in an attempt to draw investors to the new crypto ETFs.

Harvest is waiving its management fee for six months while Borsera has forgone its management fee for four months.

The publication also intimated that investors in mainland China could potentially have access to the newly launched products. However, this could be mitigated by KYC policies relating to mainland Chinese identity cards.

Magazine:68% of Runes are in the red Are they really an upgrade for Bitcoin?

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Hong Kong Bitcoin and Ether ETFs have tough debut on first-day trading - Cointelegraph

Frankfurt-based tech company Northern Data , prominently known for bitcoin mining, has recently transformed its business model into cloud solutions and data center infrastructure. This shift has caught the attention of investment bank Berenberg, which started coverage of the company's stock with a Buy rating and a price target of 39 euros ($41.84) per share, indicating a potential 53.2% upside from the current share price as of April 26. Listed on the Frankfurt Stock Exchange, Northern Data has three core divisions: Peak Mining for bitcoin mining, Taiga Cloud for cloud computing and Ardent Data Centers for data center infrastructure. Berenberg holds that the market has largely overlooked the growth prospects for Taiga Cloud's offering. Shares of Northern Data are also traded over the counter in Italy and the United States, but trading frequency and volumes are expected to be very low. NB2-DE 1Y line The business transformation isn't the first for the company, which has been listed since 2015. Formerly known as Biosilu Healthcare, the company was a pharmaceutical broker for Asian markets until early 2018. It then pivoted to crypto mining operations and was renamed Northern Bitcoin , making it one of the earliest listed firms to enter the crypto scene. In its current format, Northern Data continues to evolve with the acquisition of a data center in Pittsburgh earlier this year. The company said it will expand the facility fourfold by the second half of next year. Northern Data is also expected to benefit from advances that its subsidiary Ardent Data Centers has made in liquid-cooling technology in its crypto mining operations over the years. "We believe that the significant investments that Northern Data has made in the latest liquid-cooling mining technology and the expansion of the company at its existing North Dakota and new Texas sites should enable it to achieve high bitcoin production and mining profitability," Berenberg analysts Gerhard Orgonas and Jenna Xu said in a note to clients on April 25. "We think that Northern Data's knowhow in energy-efficient, state-of-the-art, liquid-cooled data centres makes it a competitive colocation services provider, especially given the increasing efficiency requirements for generative-AI applications." The investment bank estimates that Peak Mining can achieve revenues of over 170 million euros by next year , with adjusted margins above 40%. But it's Northern Data's cloud solutions that analysts are eyeing. The company's Taiga Cloud division is certified as an "Elite" partner of Nvidia , making it one of the largest providers of Nvidia-based cloud services in Europe. The investment bank forecasts annual revenues of around 400 million euros and adjusted profits of about 290 million euros from Taiga Cloud from 2026 onward. Northern Data's cloud computing platform is expected to have 20,000 Nvidia AI chips, worth 730 million euros, by the third quarter of 2024, the note said. Northern Data's founder and CEO Aroosh Thillainathan has also demonstrated his confidence in the company by announcing plans to acquire shares worth up to 30 million euros this year. As of Mar. 21, the company said that Thillainathan's stake in Northern Data Group has increased to 3.8 million shares, representing approximately 7.15% of the business' current share capital.

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This bitcoin miner and Nvidia AI cloud partner's stock could go up 50%, Berenberg says - CNBC