Updated Sep 29, 2026, 12:38 PM
Sentiment is greedy, with the Fear and Greed Index at 75. BTC and ETH ETF flows remain positive at +$134.50M and +$87.00M, while BTC funding at +0.0060% sits above its 7-day average of +0.0030%. However, BTC futures open interest fell 11.0% and ETH open interest 4.4% over seven days, with CEX futures and spot volumes also lower, suggesting leverage is cooling.
Liquidity and macro show stablecoin market cap at $311.47B, up 0.5% over 30 days, SSR at 5.441, BMO at 0.0505 and AHR999 at 0.569. Institutional supply is expanding: public BTC treasuries rose by 8,752 BTC and public ETH treasuries by 136,329 ETH. BTC ETF AUM is $111.25B, up 12.6% in seven days, though the average ETF premium is -0.02%.
On-chain valuation is mixed. BTC MVRV Z-Score at 0.934, NUPL at 0.366 and Puell Multiple at 1.076 are all neutral, with Reserve Risk flagged undervalued and realized price at 53,499. ETH screens weaker, with MVRV Z-Score at -0.453 and NUPL at -0.161, both indicating bottom or undervalued conditions, and realized price at 2,273.29.
Overall, ETF demand and treasury accumulation support sentiment, but declining derivatives activity and subdued volumes point to cautious positioning. BTC on-chain metrics are neutral, while ETH appears undervalued, leaving the market in a mixed but not overheated state.
Auto-generated by AI from current dashboard data, for reference only; not investment advice.