**Q1 2024 Bitcoin Sell Signal Analysis Post-Spot BTC ETF Launch**

In Q1 2024, the Mean Exchange Inflow Sell Signal demonstrated notable efficacy following the launch of Spot BTC ETFs. Between January 10th and March 31st, 33 sell signals were recorded, with 31 proving successful. This translates to a success rate of 93.9%, a marked improvement from the historical average of 87.69% from 2017 to January 2024.

The average decline for all signals was -3.2%, while successful signals averaged a -3.38% decline. The most significant drop was -9.73% on March 5th, 2024. This period's data suggests increased market stability and reduced volatility as institutional participation grows.