Bykaranteli

Our data now leaves a receipt on public blockchains. Every 5 minutes, 35 feeds we compute (funding, open interest, liquidations, order book depth, premiums and pressure scores for $BTC , $ETH , $SOL and more) are sealed into one Merkle root, signed by an isolated key and written to Solana mainnet, with a daily attestation on Base. If anyone, including us, changed one of those numbers afterwards, it would stop matching the chain. You do not have to take our word for it: the verifier on our proof page rebuilds a record, checks its signature and reads the anchor straight from Solana in your own browser. Beta, on mainnet since 18 September. Free, no account needed.

Buyers hold 80.9% of all open bets on Jupiter Perps, the Solana based perps venue. Longs total $71.3M across $SOL , $ETH and $BTC , against $16.8M in shorts.

Solana carries most of it, with $45.0M of longs to $9.7M of shorts. Bitcoin leans hard too, at $20.9M long against $2.8M short. Only Ether comes close to balance, $5.4M against $4.3M.

JLP, the pool that takes the other side of these trades, holds $767.3M and yields 10.78% a year. The capacity set aside for shorts is 69.37% used on all three markets, while long usage tops out at 19.18% on Bitcoin.

Bitcoin's crowd and some of its biggest players sat on opposite sides at 21:03 UTC on Nov 9.

Counted by accounts, every large exchange leaned long, from 68% on Gate to 78% on Bitget, with Binance and OKX both at 74%. Weighted by position size, HTX's elite accounts were only 29% long, and the largest tracked Hyperliquid wallets held 67% of their notional, the total value of their positions, on the short side. Binance's top traders broke from that group at 69% long.

On chain, Jupiter's open positions were 89% long and GMX sat near even at 51%. Across the 11 venues, the most long and most short readings were 60 points apart.

$ETH took $283.1M of the $712.3M in leveraged positions our collectors saw forced shut in the 24 hours to Nov 9, including the largest single one at $17.6M. Across all coins, longs made up $593.5M and shorts $118.8M, over 136,958 events.

Open perpetual futures bets across 27 venues came to $67.21B, -1.54% against a day earlier, with 13.84% on decentralized venues.

On Nov 6, US spot Bitcoin ETFs saw -$411.9M net and Ether ETFs -$93.2M. The 264 large Hyperliquid accounts with open positions held 39.1% of their dollars long.

Trading in tokenized stocks on decentralized exchanges came to $372.8M in the 24 hours to Nov 9, +152.45% on the day. These are tokens that each track one listed share held by a custodian.

Supply valued at share prices reached $4.13B, +3.84% since the last recorded day. Binance bStocks is the largest issuer at $1.48B.

The median token traded at -0.19% to its underlying share. The widest premium was USOon Solana +5.54%, and the widest discount was TSLAon Ethereum -2.05%.

Quantum's -2.34% was the best result among our eight theme baskets in the 24 hours to Nov 9. Every basket closed lower. Layer 2 fell hardest at -5.76%, with DePIN at -5.02% and DeFi at -5% close behind.

The 30 day picture is wider. $BTC returned -9.4% over that stretch, and all eight baskets trailed it. Quantum came closest at -14.9%, 5.5 percentage points behind. AI lagged most at -28.2%, a gap of 18.7 points.

Each basket holds equal weights of Binance spot pairs, rebased to Jan 1, 2025.

More than half of all the money held in crypto sits in a single coin. $BTC accounts for 59.56% of a market valued at $2.51T, measured at 19:42 UTC on Nov 9.

$ETH holds 10.29% of that total. Together the two leave every other token, from the large caps down to the smallest listings, splitting a minority of the market's value.

A single reading shows a level, not a direction. Money moving toward smaller coins would show up as Bitcoin's share giving ground across several days, not in one snapshot.

$BTC shows Spot buying while perps sell, with the 7 day US spot venue net at +$284M against the global perp market net at $148M. Over the last 24 hours, the US spot venue was $12M and the global perp market was $22M, with spot buyers absorbing leveraged selling.

Traders were a touch less nervous on Nov 9, but still nervous. The Fear and Greed index, one score for how bold or anxious the market feels, read 29 at 19:00 UTC. That is 1 point higher than 24 hours earlier, and the reading still carries the fear label.

Dollars parked in stablecoins barely moved. Total stablecoin supply was $294.30B, up 0.01% over the same 24 hours.

Bitcoin's share of the total crypto market value was 59.55% at the same reading.

Altcoins gave back ground on Bitcoin this past week. The Altcoin Season Index lost 13 points over seven days and read 55 on Nov 9, still in no clear season, between the 25 line for Bitcoin season and the 75 mark where altseason begins.

Of the 49 altcoins we sample, 27 beat $BTC across the past 90 days. Bitcoin itself returned 17.9% over the same stretch, so the bar the alts had to clear was not low.

The gap between the best and worst names is wide. $ARIA leads with +431.3% over 90 days, and $UAI trails at -82.3%.

For 65 days in a row, Bitcoin has cost less on Coinbase than on the large offshore exchanges. American buyers on the main US spot venue have paid a discount to the rest of the world, with no break in the run.

The latest daily gap is -0.130%, narrower than its seven day average of -0.145%. Both are small in percentage terms. What stands out is the length of the streak, not the size of the gap.

The Coinbase premium measures where US spot buyers price $BTC against global venues. It describes that price difference, not which way Bitcoin trades next.

Bitcoin has dropped -6.57% over the past 14 days to $74,934, and the crowd is still heavily long. Across all accounts, 2.78 hold long bets for every one holding short, close to the top of the 1.37 to 3.19 range of the window.

The largest traders split two ways. Counted by account they run 3.05 longs per short. Weighted by position size the figure is 2.08, so the heaviest books carry a smaller long lean than the head count.

Ether has the most one sided crowd of the 30 coins we track, at 3.93 long accounts per short. In the 24 hours to Nov 9, aggressive selling on $BTC outpaced buying by -13 BTC.

Oversold names outnumber overbought ones across the 400 largest Binance futures. On the daily RSI, a 14 day momentum gauge where 30 or under counts as oversold and 70 or over as overbought, 45 contracts sit at the low end and 11 at the high end. The average reading is 42.7.

$FOGO is the most stretched at 19.9, though it moved only -0.5% over 24 hours. $HUMA follows at 21.2 after a -9.3% day, and $PLAY at 22.7 after -12.9%.

An oversold reading describes how far recent selling has gone. It does not mark where it stops.

Cardano shows the widest funding gap between venues on Nov 9. Funding is the regular payment between longs and shorts on perpetual futures, and holding a $ADA long costs 0.08% per 8 hours more on XT than on HTX.

Annualized, that gap comes to a modeled 79.82% after fees. It's an estimate that assumes today's spread holds all year, not a return anyone has booked.

$AVAX and Dogecoin follow at 0.06% per 8 hours, then $SOL at 0.05%, cheapest to hold long on Hyperliquid and dearest on DigiFinex. XT turns up on three of the four coins, the dearest venue for longs on ADA and Dogecoin but the cheapest on AVAX.

Ether's spot book got thinner on the way down. In the 24 hours to 15:35 UTC on Nov 9, resting bids within 2% of the price shrank 21.2% and offers shrank 16%, as $ETH fell 4.6% from $2,240.22 to $2,137.45.

Buyers still hold a slight edge. Across 21 spot venues, $75.40M of bids sat within 2% of the price against $71.49M of offers, a 2.7% tilt toward the bid side.

The two largest walls hug the price. Bids worth $11.43M rest at $2,136.38, 0.05% below mid, and offers worth $13.28M wait at $2,138.51, 0.05% above. Resting orders can be pulled at any time, so this is a snapshot of the book, not a floor or a ceiling.

Lira buyers got Bitcoin a little under the global price on Nov 9. The Turkey Premium Index read -0.11% (-11.5 bps), a score of 45 / 100 in the neutral regime, near its 24 hour average of -8.8 bps.

Most of the gap comes from the currency. Tether against the lira traded -9.6 bps below the official USD/TRY rate, which was last set on Nov 6, and Bitcoin's own pricing on Turkish books added only -1.9 bps.

Among the five Turkish exchanges in the index, CoinTR was the dearest at -7.0 bps and Bybit TR the cheapest at -28.0 bps. That's a price gap, not a trade anyone can lock in.

SanDisk short sellers using borrowed money just got squeezed. Across the major venues, $4.0M of leveraged $SNDK short positions were liquidated in the last 30 minutes. Exchanges closed them by force once the collateral behind them no longer covered the losses.

Traders on the other side came through with far less damage. Long liquidations over the same 30 minutes came to $295.9K, which left the hit almost entirely on those who had bet on a lower price.

Longs are paying for their seats across most of our futures board in the 24 hours to 15:00 UTC on Nov 9, and $ON stands out. Its open positions grew 26.34%, and holders of long bets pay 0.06% in funding, the fee one side pays the other to keep a bet open.

More open contracts with longs paying that fee is how crowding on the long side shows up in the numbers. $AVAX came next, with open positions up 12.57% and funding at 0.01%.

$JCT runs the other way. Its open positions fell 4.33%, meaning contracts were closed, yet its 0.11% funding is still the highest on the list.

Two Bitcoin markets disagree on price. On Coinbase, the exchange where US buyers trade, $BTC closed Nov 8 at -0.130% below the global price, the 65th day in a row on the discount side. The quarterly future, meanwhile, was priced +5.53% a year above spot.

The seven day average came in at -0.145%, so Nov 8 was close to the recent norm, not an outlier.

Over the last 90 days the deepest discount was -0.271% on Oct 29, and the highest reading was +0.032% on Aug 27.

Since 2017, days in this very low band saw a median -0.2% BTC move over the next 7d (n=668, base +0.5%, 9y of records). History, not a forecast.

Bids outweighed asks in the $BTC spot books at 13:56 UTC on Nov 9. Across 21 venues, $133.1M of bids rested within 2% of the $74,695 price, against $113.5M of asks, an imbalance of +8.0%.

The heaviest price levels hugged the market on both sides. A $28.8M bid cluster sat at $74,658 and a $28.7M ask cluster at $74,733, each the combined size in one 0.1% bin across venues.

$ETH was close to even, with $73.9M of bids against $73.6M of asks (+0.3%). Its largest levels were $15.5M at $2,121 and $16.2M at $2,125.

This is resting size, and it can be pulled before it trades.