It means that since the ETFs launched BTC is up from 25k to 90k.

It also means the sell igniter algos that people have claimed are running around 10am are real.

It also means that these algos are running but accumulation has been bigger than selling.

It also shows you the difference between buying and holding (gray) vs two other strategies that are time based

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So… short at market open and buy it at market close to max out?

I don't trade but yeah people are doing that. Until they change the game on you.

Gray line is buy and hold and that's doing well too.

If you're a buy only then you could consider buying the low of the day

I don’t know what a natural chart looks like, but last few while is not it. Looks mechanical.

Yeah most of those are around 10am. There's an algo that does heavy selling and causes those straight lines down

Who owns those algos

Hard to say, zero hedge thinks it's Jane Street Hedge Fund

Clearly a few folks are adopting the buy at market close strategy this week.