Crypto Market Composite Score Rises to 25/100 Amid Dollar Stabilization
The crypto market's composite score has risen to 25/100, marking a slight but genuine improvement from last week and month. This increase is largely driven by the Macro lens, which has strengthened from 13 to 23 over the past month as the US dollar's decline stabilizes.
Despite this positive trend, the market remains in a defensive position. The setup is characterized by cheap valuations and calm option pricing, with spot prices around $63.9k sitting at a premium relative to the average coin's cost basis of $52.8k. Realized profit-and-loss is just above break-even at 1.05, while option-implied volatility has ticked up to near 36, its two-year floor.
Passive bid support continues to drive market sentiment, with US spot ETF flows holding net creation levels of +$95M a day for eight consecutive sessions. Meanwhile, the share of recent buyers in profit climbed above 43% even as spot prices eased.
The Cycle Position Board, a new feature introduced in this edition, tracks confluence across 45 of Glassnode's best Bitcoin metrics. Currently, the board sits in the cool half of its range, indicating a washed-out tape steadily building a base. Historically, blue stretches (where most indicators read cold) have marked great spots to accumulate, while deep red phases signaled overheating and cycle ends.