LIVE·BLOCK #965,991·ABYSS NODE · BITCOIN CORE·08 Sept 2026·87 ASSETS·46 of the 87 have provisional calibration: their 1.0 isn't the 2021 top
CRYPTO MARKET STATE · 08 Sept 2026
LOW PART OF THE RANGE · MIXED BREADTH · BALANCED
Median cycle risk of 0.21 across the 87 assets with data: 77 of 87 sit in the low part of their own historical range. Bitcoin reads 58/100 on the ABYSS Score (Neutral / Transition) and 5 of its 8 cycle indicators are in the low zone.
The cycle rule · all 87 assets on one axis (scroll sideways if it does not fit)
abyssindex.com/market · Historical context within each asset's own range. Not a signal or a recommendation.
The five readings
MEDIAN RISK · 87 ASSETS
BTC cycle risk from 0 to 1, computed by us from price (distance to its 2-year average). DIRECT scale: near 0 (green)=floor; near 1 (red)=top. Educational, not a signal.
0.21
low risk (accumulation)
▲ 0.04 · 7D
ABYSS SCORE · BTC
Our Bitcoin cycle thermometer (0-100). It's contrarian: high (green)=floor/accumulation; low (red)=euphoria/top. Blends 6 categories into one number. Educational, not a signal.
58/100
Neutral / Transition
inverted scale: high = floor
ALTSEASON
Measures whether alts are beating Bitcoin (0-100, our own data): the alt basket's 90-day performance versus BTC. High (purple)=altseason; low (amber)=Bitcoin season; ~50=balanced.
45/100
Balanced
5 alts
FEAR & GREED
Crypto market emotion (0-100), from alternative.me (third party). Low=extreme fear; high=extreme greed. Historically fear has coincided with floors and greed with tops.
69
Greed
contrarian reading · alternative.me
CYCLE CONSENSUS · BTC
5/8
in the low zone
3 on-chain + 5 price-based
Breadth · does everything move together?
Breadth tells you whether this is one market or two. It is the reading no per-asset table shows.
77 / 87
low part (< 0.40)
7 / 87
mid range (0.40–0.60)
3 / 87
high part (≥ 0.60)
0.33
Dispersion (p90 − p10)
77 of 87 assets are in the low part of their range (< 0.40); 30 days ago it was 84.
The higher it is, the more split the market is. Mean 0.23 · p10 0.09 · p90 0.42 · 41 assets with robust calibration (2021 top) and 46 with provisional calibration (their 1.0 isn't the 2021 top).
MVRV, MVRV-Z and NUPL come from our own copy of the chain (the node's UTXO set). Puell comes from issuance plus price. Mayer, Pi Cycle, 2Y MA and ABYSS Risk are multiples computed from price alone. We compute all eight ourselves and buy none of them — that is why we can publish them for free.
MVRV
Market cap ÷ realized cap (coins' average cost). On-chain, from our own node. Below 1 (green)=market at a loss/floor; well above (red)=extreme profit/top.
CHAIN
1.51
mid valuation
MVRV-Z
MVRV expressed in standard deviations from its own history. On-chain, from our node. Very low (green)=historic bottom; above ~7 (red)=historic top.
CHAIN
0.89
NUPL
The whole market's unrealized profit/loss, on-chain from our node. Negative (green)=capitulation/floor; toward 1 (red)=euphoria/top. Reflects market psychology.
CHAIN
0.34
optimism
Puell
USD value of BTC's daily issuance ÷ its 365-day average (issuance + price). Gauges miner stress. <0.5 (green)=capitulation/floor; >4 (red)=extreme revenue/top.
ISSUANCE
0.95
undervalued
Mayer
BTC price ÷ its 200-day moving average (price-based). Gauges cheap vs expensive against its trend. <0.8 (green)=undervalued; the 2.4 line (red) has marked tops.
PRICE
1.15
fair value
Pi Cycle
Compares the 111-day average with twice the 350-day (price), shown as their ratio. Near 1 (red) they cross and it flagged the 2013/17/21 tops; low (green)=top far off.
PRICE
0.42
far from top
2Y MA
BTC price versus its 2-year moving average and that average ×5 (price). <1 (green)=below the 2-year MA (historic floors); above ×5 (red)=overbought (tops).
PRICE
0.91
below 2Y MA (accumulation)
ABYSS Risk
BTC cycle risk from 0 to 1, computed by us from price (distance to its 2-year average). DIRECT scale: near 0 (green)=floor; near 1 (red)=top. Educational, not a signal.
PRICE
0.29
low risk (accumulation)
Mayer, Pi Cycle, 2Y MA and ABYSS Risk derive from the same price series: they are not four independent confirmations.
⚠︎ Only Bitcoin has a chain-based reading. The other 86 assets are read purely from price (ABYSS Risk). Realized price: $53,225 · LTH 80.9%
Historical mirror · where this same panel stood at each turn
The same median, computed at each previous turn over the assets that traded back then. At a top we take that month's HIGHEST reading and at a bottom its LOWEST (the turn is the extreme, not the first week). The «assets» column is the honesty check: in 2013 almost none existed.
Cycle turn
When
Median risk
Assets with data
Top
Top · Dec 2013
0.80
1 / 87 · BTC only
Top
Top · Dec 2017
0.96
1 / 87 · BTC only
Top
Top · Nov 2021
0.73
62 / 87
Bottom
Bottom · Jan 2015
0.17
1 / 87 · BTC only
Bottom
Bottom · Dec 2018
0.18
1 / 87 · BTC only
Bottom
Bottom · Nov 2022
0.22
83 / 87
TODAY
08 Sept 2026
0.21
87 / 87
Each asset's calibration uses its full history, so these readings are in-sample: they are not an out-of-sample validated prediction.
Dimmed rows have so few assets with data that their «median» is, in practice, just Bitcoin. That is why the reference marks on the rule use only turns with real market coverage (≥ 5 assets): 2021 top (0.73, n=62) and 2022 bottom (0.22, n=83).
What this means — and what it does NOT
The median is NOT a new index. It is the simple, unweighted median of the ABYSS Risk across the 87 assets with data. Our single verdict is still the ABYSS Score.
Two opposite scales. The ABYSS Score is contrarian (100 = floor) and the ABYSS Risk is direct (1 = top). Here we always colour by meaning: green = low in the range, red = high.
46 of the 87 have provisional calibration (their 1.0 is recent, not the 2021 top). Their 0–1 drags the median. We say it here rather than bury it in a footnote.
This does not predict. It describes position within a historical range. «Low in the range» does not mean it cannot go lower.
You may use it. Our own indices (Score, Risk, median, Altseason) are free to redistribute with a link to abyssindex.com; the Fear & Greed is from alternative.me (use it with its attribution).
It is the simple, unweighted median of the ABYSS Risk (0–1) across the 87 assets we track. It is NOT a new index or a verdict: it is a descriptive statistic summarising where most of the market sits within its own historical range. Each asset is calibrated on ITS own history, not Bitcoin's.
Why the median and not the average?
Because the median is not dragged around by one or two assets at an extreme. We also publish the mean, the 10th and the 90th percentile so you can see the full shape of the distribution and judge for yourself.
Why does only Bitcoin have on-chain data?
Because we compute on-chain ourselves from our own Bitcoin node, and we do not run a node for every chain. To be precise: of the eight Bitcoin readings on this screen, only three (MVRV, MVRV-Z and NUPL) come from the chain's UTXO set; Puell comes from issuance plus price, and Mayer, Pi Cycle, 2Y MA and ABYSS Risk are price multiples. The other 86 assets are read purely from price. We say so plainly instead of hiding it.
Does this tell me when to buy or sell?
No. It describes where each asset sits within its historical range and what happened in similar situations in the past. It does not predict the future, it is not a signal and it is not financial advice. The decision is yours.
Can I use this screen in my video or channel?
Yes. Our own indices (Score, Risk, the median and Altseason) are free to redistribute: screenshot, cite us and use them in your content with a link to abyssindex.com. The Fear & Greed is from alternative.me — use it with its attribution.
