Crowd Gaugeas of Sep 9, 1:20 AM UTC

54

Neutral

Fear and greed, from real positioning.

Longs pay 8% a year to stay in. $1.29B sits within 5% of long liquidation, $916M of short.

Not a survey and not social chatter. Five things that decide squeezes, from our own data, every 10 minutes: who pays funding, whether leverage is building, how much money sits near liquidation on each side, momentum, and speed.

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Yesterday

Not yet. History builds from today.

Last week

Not yet. History builds from today.

Last month

Not yet. History builds from today.

01

What moved it

Each part on the same fear-to-greed scale. The centre line is neutral.
  1. Funding

    Longs pay 8% a year to stay in.

    63 of 100 · weight 35%

  2. Open bets

    Open bets down 1.0% on a red day: longs closed or closed out.

    47 of 100 · weight 25%

  3. Liquidation sides

    $1.29B sits within 5% of long liquidation, $916M of short.

    58 of 100 · weight 15%

  4. Momentum

    The majors: -0.4% in 24 hours, +2.5% in 7 days.

    51 of 100 · weight 25%

  5. Speed

    Prices are moving slowly (1.6% a day), which softens the mood.

    amplifier

02

Macro worry

From prediction-market odds we snapshot ourselves.

45

Watchful

A world market moved 66 points today. 54% on the Fed raising rates next.

  1. Recession odds

    Traders put 4% on a recession.

    4

  2. Rate-hike odds

    54% on the Fed raising rates next.

    54

  3. Hot inflation print

    49% on inflation coming in above the middle strike.

    49

  4. World tension

    A world market moved 66 points today.

    100

Calm under 25, Watchful to 50, Worried to 75, Alarmed above.

03

How it is made

Funding counts most. When longs pay to stay in, the crowd leans greedy. When shorts pay, it leans fearful.

Open bets tell the direction of the leverage. Building while price rises is greed. Building while price falls is shorts piling in, which is fear.

Liquidation sides show which crowd is exposed. More money near long liquidation than short means longs get hit first.

Momentum is the majors over 24 hours and 7 days, weighted by open bets. Speed is how fast prices are moving, which makes the mood stronger in either direction.

Extreme readings are fragile readings. A very greedy tape has the most to lose from a drop; a very fearful one has the most to gain from a bounce. The gauge describes; it never tells you what to do.

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Today's Market WatchSqueeze MapFunding on three exchanges

Educational only. Not financial advice. A number about the crowd, not a signal.