# Crypto market brief · 2026-10-11

BTC +0.82% over 24h. Liquidity state: SUPERPOSITION (84). US traders have bid below the global price for 36 straight days. Fear & Greed 61 (greed).

Source: https://bykaranteli.com/brief/2026-10-11 · attribute to ByKaranteli and quote the timestamp.
Snapshot taken 2026-10-11.

This is the archived market brief for 2026-10-11. The numbers below reflect the market at the end of that day.

## Market pulse

Where the market stands right now: price, dominance, sentiment, and sideline capital.

- BTC $83657 · +0.82% in 24h
- BTC dominance 59.59% · total market cap $2.8T
- Fear & Greed: 61 (Greed)
- Retail Euphoria Index: 69 (EUPHORIA)
- Stablecoin supply: $312.6B · +$699.1M 24h

## Liquidity & stress

ByKaranteli's own liquidity-state model plus the gap between US-regulated and global pricing.

- PsiCharge state: SUPERPOSITION · score 84/100
- In this state over the last 12 months (3365 readings), BTC averaged -0.09% over the next 24h and closed higher 53% of the time
- Coinbase Premium -0.09%: US bids below global price, day 36 of the streak

## Flow & positioning

Order-flow toxicity and where leveraged open interest moved in the last 24 hours.

- BTC order-flow toxicity (VPIN) 0.15, 73th percentile of 90 days
- Biggest OI move: AVAXUSDT open interest +9.0% with price +5.4% (longs building)
- Across 10 tracked majors: 3 adding leverage, 2 squeezing out
- Top-30 perp positioning: 16 symbols long crowded, 14 in short ramp

## Whales, positioning and stock perps

What the largest Hyperliquid accounts hold, how Binance accounts are positioned, the stock and commodity perps, and the Korea and Turkey premium.

- Hyperliquid whales (top 1000 accounts by equity): $2.7B long vs $3.8B short, 42% long
- BTC whale book: 39% long on $1.5B of open positions
- BTC on Binance: long/short accounts 1.40, top-trader positions 1.55, taker buy/sell 1.37 (1h)
- Stock and commodity perps: 216 contracts, $4.6B open interest; largest XAUUSDT ($613.3M), most liquidated CLUSDT ($357010 in 24h)
- Kimchi premium (Upbit BTC) +0.873%, Turkey premium (BtcTurk BTC) +0.026%

## Options desk

Implied volatility and what the tape actually paid for in the last 24 hours.

- BTC implied volatility (DVOL): 36.9
- 24h taker premium: $771264 into calls vs $554453 into puts
- Largest print: buy BTC-26MAR27-90000-C · $285096 premium
- Put/call OI ratio 0.58 · call wall at $95000, put wall at $80000

## Liquidations

Forced liquidations recorded across our exchange feeds in the last 24 hours.

- 24h wipeouts: $46.6M longs vs $88.9M shorts across 53,110 events
- Largest single liquidation: ETHUSDT $1.9M
- 1 cascade event detected in 24h, largest $42.7M

## ETF flows

US spot ETF net flows, last finalized trading day.

- BTC ETFs +$21.1M on 2026-10-09 · day 1 of the inflow streak
- ETH ETFs $56.1M on 2026-10-09 · day 9 of the outflow streak

## Calendar

What is scheduled, and what similar days have actually done to price.

- FOMC statement · October 27-28, 2026 in 17 days
- Fed days move BTC 2.5x a normal half hour (17 meetings measured)
- CFTC week of 2026-10-06: hedge funds net -6,852 BTC futures contracts (+4 WoW)


## Related

- https://bykaranteli.com/brief
- https://bykaranteli.com/brief/weekly

Everything in one fetch: https://bykaranteli.com/llms-full.txt