Updated Sep 12, 2026, 12:19 PM
Sentiment sits in neutral territory with a Fear & Greed reading of 57, though flows are split: BTC ETFs saw a $120.20M net outflow in the latest session while ETH ETFs added $34.70M. BTC funding remains mildly positive at 0.0040%, and futures open interest is broadly flat, with BTC down 0.5% over seven days against a 4.6% rise in ETH.
Liquidity conditions look steady rather than expansive. Stablecoin market cap is $310.03B, up 1.2% over 30 days, while CEX reserves slipped 0.4% to $274.78B and both spot and futures volumes contracted over the week. Macro gauges remain subdued, with BMO at -0.305 and AHR999 at 0.482.
On-chain valuation is mixed. BTC reads neutral across MVRV Z-Score (0.945), NUPL (0.306) and Puell Multiple (0.879), with aSOPR at 0.993 and Reserve Risk flagged undervalued. ETH screens weaker, with MVRV Z-Score at -0.453 and NUPL at -0.161, both tagged bottom or undervalued. The divergence between BTC ETF outflows and ETH ETF inflows, alongside softer ETH valuation metrics, suggests capital rotation rather than broad risk appetite.
Auto-generated by AI from current dashboard data, for reference only; not investment advice.