How’s Bitcoin?
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The Bitcoin market right nowCalm

No crowding, but stress is building in the order books. The big picture has no strong view.

QUIETrisk MODERATEconfidence 0.56combined −0.13as_of 2026-10-13T02:10:03.231350Z
Be told when it changes · $9/mo
Last change 33h ago: Crowded trade → Calm
Big pictureWhere are we?
Neutral
Neutral−0.01
Neutral for 33h
Seven slow sources, averaged over a day. Changes a few times a month.
7 of 7 sources · 24h average · score −0.01
MomentumWhat is happening now?
Falling
Falling−0.23
Price and mood. Changes daily and never sends an alert.
4 of 5 sources · live · score −0.23
RiskIs it dangerous?
Watch
Leverage normalStress building
Crowded traders and stress in the order books.
funding z +0.5 · crowding balanced · 0 prints · OI 24h −1.0% · manipulation index 0.40 · MODERATE · risk MODERATE
13 of 14 sources live · missing: price · completeness 1.00
How the signal is built

Where fourteen sources meet.

Twelve sources feed the big picture and momentum; crowding and stress feed the risk. Together they pick the state at the top.

BIG PICTURE Neutral MOMENTUM Falling LEVERAGE Normal STRESS Building 14 MODULES · 2 READS · 2 STRUCTURE
positive / risingnegative / fallingcrowdingstressmissing source
no AI in the loop · the same inputs always give the same answer
01 · The three answers

Where are we, what is happening now, is it dangerous.

Each answer has its own sources and its own speed. None of them forecasts price: a 17-month test found no forecast in these sources, so the signal describes the market you are in and tells you when that changes.
Big pictureWhere are we?

Seven slow sources: whale flows, valuation, macro, ETF flows, stablecoins, exchange reserves, CME futures. Averaged over a day, so it changes a few times a month. It reads Positive, Neutral or Negative.

Each change is scored three days later.

MomentumWhat is happening now?

Five fast sources: price trend, price action, fear & greed, options, US premium. It is the trend so far, and it moves daily. It reads Rising, Flat or Falling, and it never changes the state or sends an alert.

Scored a day later, for the record only.

RiskIs it dangerous?

Crowding: futures traders piled onto one side for 16 hours or more. Stress: signs of strain and manipulation in the order books. It reads Calm, Watch or High, and Not enough data when sources are thin.

Crowding calls are scored a week later, against the crowd.

The six states
picked from the big picture and the risk; momentum is left out on purpose
CalmnowQUIET
No crowded side and no stress; the big picture is neutral or negative.
Steady buyingSPOT_ACCUMULATION
The big picture is positive and leverage is normal.
Rally on borrowed moneyLEVERAGED_RALLY
The big picture is positive, but traders have stayed crowded on one side for 16 hours or more.
Crowded tradeLEVERAGED_CHOP
Traders have stayed crowded on one side for 16 hours or more, without the big picture behind them.
Shake-outDELEVERAGING
Stress is high and positions are being forced out.
Panic sellingCAPITULATION
Stress is high and the big picture is negative.

Momentum is not part of the state because it mirrors the last day of price: a state that flipped with every candle would tell you nothing the chart does not.

02 · Fourteen sources

What is pushing each answer.

Every source pushes its answer one way or the other; the bar shows how hard compared with the others. Switch on developer view (top right) for the exact scores, weights and the endpoint each source is read from.
Big picturenow neutral7 slow sources, averaged over a day
Whale flows
Large coins moving onto or off exchanges
module bias +0.00 (weight 0.13) · weight 0.13 · contribution 0.000 · /v1/onchain/metrics
neutral
Valuation
Price against what holders paid for their coins
module bias -0.42 (weight 0.09) · weight 0.09 · contribution −0.038 · /v1/onchain/valuation
negative
Macro
How Bitcoin trades with stocks, gold and the dollar
module bias +0.23 (weight 0.09) · weight 0.09 · contribution +0.021 · /v1/macro/correlations
positive
ETF flows
Money moving in and out of Bitcoin funds
module bias 0.00 (weight 0.09) · weight 0.09 · contribution 0.000 · /v1/derivatives/overview
neutral
Stablecoins
Whether stablecoin supply, the cash on the sidelines, is growing
module bias −0.20 (weight 0.02) · weight 0.02 · contribution −0.004 · /v1/macro/stablecoins
negative
Exchange reserves
Coins held on exchanges, ready to sell
module bias +0.12 (weight 0.06) · weight 0.06 · contribution +0.007 · /v1/onchain/exchange-reserves
positive
CME futures
The premium institutions pay for regulated futures
module bias +0.15 (weight 0.05) · weight 0.05 · contribution +0.008 · /v1/derivatives/cme-basis
positive
Momentumnow falling5 fast sources, live
Price trend
The trend on hourly, 4-hour and daily charts
module bias -0.17 (weight 0.22) · weight 0.22 · contribution −0.039 · /v1/technical/trend
falling
Price action
The last day's move and where price sits in its range
module bias -0.44 (weight 0.18) · weight 0.00 · contribution — · /v1/market/snapshot
missing
Fear & greed
The crowd's mood, from the Fear & Greed index
module bias +0.14 (weight 0.09) · weight 0.09 · contribution +0.013 · /v1/sentiment/overview
rising
Options
Whether options traders pay more for upside or downside
module bias −0.23 (weight 0.05) · weight 0.05 · contribution −0.011 · /v1/derivatives/options
falling
US premium
US buyers against the rest of the world
module bias −0.50 (weight 0.04) · weight 0.04 · contribution −0.020 · /v1/market/multi_exchange
falling
Risk2 crowding and stress
Crowding
Whether futures traders are piled onto one side
funding z +0.5, crowding balanced · weight 0.16 · contribution +0.030 · /v1/derivatives/positioning
balanced
Stress index
Signs of stress and manipulation in the order books
index 0.40 (MODERATE) · weight 0.10 · contribution +0.080 · /v1/risk/manipulation
building
13 of 14 sources live · missing: Price action · completeness 1.00
03 · The river

What it said before the last moves.

Thirty days of price with every change of state pinned to the hour it happened, so you can check what the signal said before each move. Free readers see it up to yesterday; members see the last 24 hours too.

BTC / USD · hourly▲ big picture positive · ▼ negative · ● neutral last 24h, members68 changes in 30 days (to yesterday)
signal neutral → negativeSep 16 04:17Z · biggest push: price actionconfidence 0.60 risk watch → calmSep 27 05:05Z · biggest push: price trendconfidence 0.49 risk calm → watchSep 28 03:54Z · biggest push: price actionconfidence 0.39 risk watch → calmOct 4 08:29Z · biggest push: price trendconfidence 0.61 risk calm → watchOct 5 00:34Z · biggest push: price trendconfidence 0.64 signal neutral → negativeOct 7 09:20Z · biggest push: crowdingconfidence 0.58 signal negative → neutralOct 8 02:45Z · biggest push: crowdingconfidence 0.54 signal negative → neutralOct 8 19:36Z · biggest push: price actionconfidence 0.55 risk calm → watchOct 11 12:40Z · biggest push: crowdingconfidence 0.56 Calm → Steady buying · signal neutral → positive Calm → Steady buying · signal neutral → positiveSep 14 03:15Z · biggest push: stress indexconfidence 0.57 Steady buying → Calm · signal positive → neutral Steady buying → Calm · signal positive → neutralSep 15 03:07Z · biggest push: stress indexconfidence 0.55 Calm → Steady buying · signal neutral → positiveSep 17 12:20Z · biggest push: price actionconfidence 0.58 Steady buying → Calm · signal positive → neutralSep 17 12:47Z · biggest push: price actionconfidence 0.55 Calm → Steady buying · signal neutral → positiveSep 18 04:08Z · biggest push: stress indexconfidence 0.61 Steady buying → Calm · signal positive → neutralSep 20 06:34Z · biggest push: price trendconfidence 0.44 Calm → Steady buying · signal neutral → positiveSep 20 16:11Z · biggest push: price trendconfidence 0.47 Steady buying → Borrowed rallySep 23 00:04Z · biggest push: price trendconfidence 0.65 Borrowed rally → Crowded · signal positive → neutralSep 23 14:14Z · biggest push: crowdingconfidence 0.43 Crowded → CalmSep 24 08:04Z · biggest push: price trendconfidence 0.44 Calm → Steady buying · signal neutral → positiveSep 24 14:03Z · biggest push: price trendconfidence 0.47 Steady buying → Borrowed rallySep 24 16:04Z · biggest push: crowdingconfidence 0.49 Borrowed rally → Steady buyingSep 25 08:04Z · biggest push: price trendconfidence 0.48 Steady buying → Calm · signal positive → neutralSep 25 13:42Z · biggest push: stress indexconfidence 0.43 Calm → Steady buying · signal neutral → positiveSep 25 15:00Z · biggest push: stress indexconfidence 0.47 Steady buying → Calm · signal positive → neutralSep 25 15:45Z · biggest push: stress indexconfidence 0.43 Calm → CrowdedSep 25 16:04Z · biggest push: crowdingconfidence 0.46 Crowded → Borrowed rally · signal neutral → positiveSep 25 22:58Z · biggest push: crowdingconfidence 0.46 Borrowed rally → Crowded · signal positive → neutralSep 26 05:39Z · biggest push: crowdingconfidence 0.42 Crowded → CalmSep 26 08:05Z · biggest push: stress indexconfidence 0.43 Calm → Steady buying · signal neutral → positiveSep 26 14:53Z · biggest push: price trendconfidence 0.47 Steady buying → Borrowed rallySep 26 16:04Z · biggest push: crowdingconfidence 0.46 Borrowed rally → Steady buyingSep 27 00:05Z · biggest push: price trendconfidence 0.49 Steady buying → Borrowed rallySep 27 08:05Z · biggest push: price trendconfidence 0.51 Borrowed rally → Crowded · signal positive → neutralSep 27 17:14Z · biggest push: crowdingconfidence 0.43 Crowded → Borrowed rally · signal neutral → positiveSep 27 17:50Z · biggest push: crowdingconfidence 0.47 Borrowed rally → Crowded · signal positive → neutralSep 27 22:04Z · biggest push: crowdingconfidence 0.42 Crowded → CalmSep 28 00:05Z · biggest push: price trendconfidence 0.44 Calm → Steady buying · signal neutral → positiveSep 28 00:23Z · biggest push: price trendconfidence 0.48 Steady buying → Calm · signal positive → neutralSep 28 00:35Z · biggest push: crowdingconfidence 0.42 Calm → CrowdedSep 28 08:05Z · biggest push: crowdingconfidence 0.41 Crowded → CalmSep 28 16:05Z · biggest push: price actionconfidence 0.40 Calm → Steady buying · signal neutral → positiveSep 29 07:19Z · biggest push: stress indexconfidence 0.58 Steady buying → Calm · signal positive → neutralSep 29 15:21Z · biggest push: stress indexconfidence 0.53 Calm → CrowdedSep 29 16:05Z · biggest push: crowdingconfidence 0.51 Crowded → CalmSep 30 00:05Z · biggest push: stress indexconfidence 0.53 Calm → CrowdedSep 30 08:04Z · biggest push: crowdingconfidence 0.50 Crowded → Borrowed rally · signal neutral → positiveSep 30 12:33Z · biggest push: crowdingconfidence 0.57 Borrowed rally → Crowded · signal positive → neutralSep 30 14:35Z · biggest push: crowdingconfidence 0.53 Crowded → Borrowed rally · signal neutral → positiveSep 30 15:33Z · biggest push: crowdingconfidence 0.57 Borrowed rally → Steady buyingSep 30 16:04Z · biggest push: price trendconfidence 0.58 Steady buying → Calm · signal positive → neutralOct 1 01:02Z · biggest push: stress indexconfidence 0.53 Calm → Steady buying · signal neutral → positiveOct 1 15:09Z · biggest push: stress indexconfidence 0.59 Steady buying → Calm · signal positive → neutralOct 1 15:39Z · biggest push: stress indexconfidence 0.54 Calm → Steady buying · signal neutral → positiveOct 1 16:33Z · biggest push: price trendconfidence 0.58 Steady buying → Borrowed rallyOct 2 16:05Z · biggest push: price trendconfidence 0.59 Borrowed rally → Crowded · signal positive → neutralOct 2 17:40Z · biggest push: crowdingconfidence 0.55 Crowded → CalmOct 3 00:04Z · biggest push: price actionconfidence 0.51 Calm → CrowdedOct 3 08:04Z · biggest push: crowdingconfidence 0.51 Crowded → CalmOct 3 16:04Z · biggest push: stress indexconfidence 0.57 Calm → Steady buying · signal neutral → positiveOct 3 17:02Z · biggest push: stress indexconfidence 0.58 Steady buying → Calm · signal positive → neutralOct 3 21:04Z · biggest push: price trendconfidence 0.55 Calm → CrowdedOct 4 00:09Z · biggest push: crowdingconfidence 0.57 Crowded → Borrowed rally · signal neutral → positiveOct 4 00:20Z · biggest push: crowdingconfidence 0.58 Borrowed rally → Steady buyingOct 4 08:04Z · biggest push: price trendconfidence 0.60 Steady buying → Calm · signal positive → neutralOct 5 15:03Z · biggest push: stress indexconfidence 0.55 Calm → CrowdedOct 5 16:05Z · biggest push: crowdingconfidence 0.53 Crowded → Borrowed rally · signal neutral → positiveOct 6 13:55Z · biggest push: crowdingconfidence 0.58 Borrowed rally → Steady buyingOct 6 16:02Z · biggest push: stress indexconfidence 0.57 Steady buying → Calm · signal positive → neutralOct 6 16:09Z · biggest push: stress indexconfidence 0.54 Calm → CrowdedOct 7 00:02Z · biggest push: crowdingconfidence 0.47 Crowded → CalmOct 7 16:02Z · biggest push: price actionconfidence 0.58 Calm → CrowdedOct 8 00:02Z · biggest push: crowdingconfidence 0.58 Crowded → CalmOct 8 16:02Z · biggest push: price actionconfidence 0.60 Calm → CrowdedOct 10 08:04Z · biggest push: crowdingconfidence 0.51 Crowded → Borrowed rally · signal neutral → positiveOct 10 17:38Z · biggest push: crowdingconfidence 0.58 Borrowed rally → Crowded · signal positive → neutralOct 11 00:59Z · biggest push: crowdingconfidence 0.55 Crowded → CalmOct 11 17:03Z · biggest push: stress indexconfidence 0.58 positive negative scale ±0.65
Scorecard · last 30 daysscored live since 11 Oct 2026, by rules written before the first call · /v1/verdict/track-record

Each answer is scored against what price did next. None is beating chance yet; a verdict on any of them needs 30 scored calls.

Big picture changesscored 3 days later
When the big picture turns, is price on that side three days later?
0/30
Too early to judge
Crowding callsscored a week later
When traders stay crowded, does price go against them within a week?
0/30
Too early to judge
Momentum changesscored a day later
When momentum turns, is price on that side a day later? Kept for the record, never sold.
1/30
Too early to judge

Turned rising 1 time: price higher a day later after 100% of 1 scored, against 57% from any hour.

2d agochange no. 0446
Rally on borrowed money → Crowded trade
signal neutral · biggest push: crowding
price a day later+0.7%
no direction claimed
37h agochange no. 0447
Risk calm → watch
biggest push: crowding
price a day later−0.4%
no direction claimed
33h agochange no. 0448
Crowded trade → Calm
big picture neutral · momentum rising · biggest push: stress index
price a day later−1.4%
no direction claimed
last 24 hourschange no. …
No change yet

When the next one lands, members see it within a minute.

Unlock the last 24h →
04 · The world

What Bitcoin is talking about.

“Over the last ~12 hours, on-chain activity centered on large unknown-wallet BTC and USDC transfers with limited directional clarity from whale accounts. Broader news context references recent ETF flow volatility and price levels near $80k-$85k, but no breaking regulatory or macro catalysts emerged in the window. Signal remains sparse and mixed.”

narrative · sentiment module · refreshed every 30 min
Sentiment
57
Greed
fear & greed
overall+0.10 · neutral
news+0.08 · neutral
socialno reading · 4 posts
Themes
whale transfersETF flowson-chain movements
On the feed · X + web
3 X searches · last 12h · confidence 0.45
Pulling up
none
Pulling down
  • mixed ETF outflow reports from early October
Whales

Whale Alert reported a 1,268 BTC (~$104.7M) transfer between unknown wallets on Oct 12; additional large USDC mints and transfers to Aave observed, with no immediate exchange deposits flagged.

Catalysts · next 14 days
US CPI Release
in 1d
Oct 14 · macro · high
/v1/events/upcoming
05 · How to read it

What the signal says, and what it doesn't.

Three answers about the market you are in, and a note every time one of them changes. Not where price goes next.
Three answers

Big picture says where the market stands and moves a few times a month. Momentum says what is happening now and moves daily. Risk says whether traders are crowded or the order books show stress.

The most useful moment is when momentum and the big picture disagree: price is running, and the slow money has not followed, or the other way round. That happens about a quarter of the time.

What a change means

The state changes only for facts: the big picture turning, traders staying crowded, or stress turning high. Each must hold for an hour before it counts, and leaving a reading takes more than entering it, so a change means the market turned, not that a number wobbled.

Momentum moves all day; that is texture, not an event, and it never sends an alert. When sources are thin, risk says Not enough data, never a falsely calm reading.

What it is not

Not a forecast. A 17-month test found no forecast in these sources at any horizon, so the page never claims one. Each answer is scored live against what price did next, and the scorecard above shows the result whatever it says.

Every answer cites its sources and every past change stays on the record, so you can judge the signal on its own history. Switch on developer view for the exact numbers.

This is market analytics, not financial advice, and nothing here is a recommendation to buy or sell. It does not know your position, your horizon or your risk. Past signals do not predict future prices.

06 · Pricing

Free to read. $9 to be told first.

Free
$0
  • The live signal: big picture, momentum and risk, with every source
  • The river, up to yesterday
  • Daily digest channel on Telegram (opening with alerts)
Read the signal
Alerts
$9
/mo · $79/yr
  • Everything in Free, with no delay
  • A Telegram alert when the big picture turns, traders stay crowded for 16 hours, or stress turns high. About ten a month, every one a fact, never a price forecast
  • Every change the moment it happens, scored against what price did next
  • Member dashboard (liquidation heatmap, order-book walls, reserves, named whales) — after alerts

Not on sale yet. One email when it opens, nothing else.

Developers

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rendered 2026-10-13T02:10:53.680Z · signal as_of 2026-10-13T02:10:03.231350Z