The Inter-exchange Flow Pulse (IFP) is a valuable metric for measuring bitcoin flows between spot and derivative exchanges using CryptoQuant's data. This flow data reflects market sentiment, with increasing Bitcoin flow to derivative exchanges indicating bullish runs, and decreasing flow signaling bearish trends.

Historically, the IFP crossing its 90-day moving average has been a reliable signal of bull and bear markets. For example, in June 2016, the IFP remained below its 90-day average for about 55 days before breaking above it, leading to a major bull run.

Currently, the IFP has been below its 90-day moving average for 43 days but has been trending upward since February 7, 2024. If the IFP breaks above its 90-day moving average again, we may see the bulls regain strength.

While past trends can provide insight, there is no guarantee that history will repeat itself. However, closely monitoring data flow can help maximize profits and protect against losses. With the IFP poised to break above its 90-day moving average, a bull market in Bitcoin in 2024 seems increasingly likely.