Updated Sep 25, 2026, 01:07 PM
Sentiment reads constructive but not euphoric: the Fear and Greed Index sits at 72, while BTC and ETH ETFs drew +$714.70M and +$162.20M in the latest session. BTC funding at +0.0031% is below its 7-day average of +0.0056%, and BTC futures open interest slipped 0.8% over the week even as CEX spot and futures volumes rose 27.6% and 24.9%. Volatility pricing is subdued, with BTC DVOL at 35.2 and ETH DVOL at 50.1.
Liquidity is steady rather than expanding. Stablecoin market cap stands at $310.98B, up 0.7% over 30 days, with SSR at 5.442 and the Bitcoin Macro Oscillator at 0.0505. CEX reserves climbed 7.5% in a week to $294.18B, with Binance holding 60.7%. Crypto fundraising fell 72.7% month over month to $634.32M across 57 deals.
On-chain valuation looks mid-range for BTC: MVRV Z-Score 0.769, NUPL 0.366, Puell Multiple 0.947 and aSOPR 0.993 all register neutral, while Reserve Risk is flagged undervalued against a realized price of 53,499. ETH screens weaker, with MVRV Z-Score of -0.453 and NUPL of -0.161 marked bottom and undervalued, though its SOPR of 0.999 is neutral.
Netting these out, flows and greed are supportive while derivative leverage and funding remain restrained, and ETH valuation lags BTC on most metrics. The LINK open interest and price spike, extreme CASHCAT and CRCL funding, and the note that six datasets are stale are worth monitoring for confirmation.
Auto-generated by AI from current dashboard data, for reference only; not investment advice.