Updated Sep 5, 2026, 02:57 PM
Spot flows remain positive, with BTC ETF net inflows of 730.8 million and ETH ETF inflows of 141.4 million on the latest session, while the Fear and Greed Index sits at 73. Perpetual funding is nearly flat, with BTC seven-day average at 0.0057%, suggesting demand is real but not overheated. Derivatives volatility declined across BTC and ETH, and futures open interest is mostly stable.
Liquidity conditions show a mildly improving stablecoin supply, up 1.4% over 30 days, but CEX reserves fell 3.6% in a week. The Bitcoin Macro Oscillator remains negative, and the AHR999 indicator at 0.549 points to a comparatively low valuation zone. Spot and futures volumes both rose over the weekly window, though total liquidations of around 326 million highlight lingering leverage risk.
On-chain valuation is mixed. BTC metrics sit mostly neutral across Puell Multiple, MVRV Z-Score, and NUPL, while Reserve Risk is labeled undervalued. Ethereum exhibits a more cautious profile, with MVRV Z-Score at the bottom range and ETH NUPL in undervalued territory. Public BTC treasuries shrank over 30 days, while public ETH treasuries expanded.
Overall, strong ETF inflows and moderate valuation levels coexist with negative macro momentum and defined risk signals, leaving the market in a state of constructive but cautious rebalancing.
Auto-generated by AI from current dashboard data, for reference only; not investment advice.