Euphoria Score
Tracking market overheating conditions, starting with Bitcoin
Live Module
Bitcoin Euphoria Score
Last updated: May 21, 2026, 11:42 AM UTC
The market is warming up. Btc open interest, btc funding rate, altcoin relative performance are trending above baseline. Early signs of speculative interest are building.
Score History
Metric Breakdown
BTC Funding Rate
25% weight
+7.2 pts
Funding rate is 0.0074%, near neutral. No strong directional bias in perpetual markets.
BTC Open Interest
25% weight
+7.8 pts
Open interest is $2.6B, above average. Significant leverage in the market.
BTC Dominance
10% weight
+2.7 pts
BTC dominance is 58.2%, elevated. Capital is concentrated in Bitcoin, suggesting risk-off positioning.
Altcoin Relative Performance
15% weight
+6.3 pts
Alts and BTC are performing similarly (spread: 0.5pp). Balanced market conditions.
Fear & Greed Index
15% weight
+4.4 pts
Fear & Greed Index is at 29 (Fear). Fear is present in the market.
Macro Risk Proxy
10% weight
+3.4 pts
Macro conditions are risk-off. Market is down 0.1% with subdued volume. Risk appetite is low.
What is Driving the Score
Weighted contribution of each metric to the composite score of 63.4
About Euphoria Score
Euphoria Score is a platform for tracking market overheating conditions across asset classes. Bitcoin Euphoria Score is the first live model, combining derivatives data, sentiment indicators, and macro signals into a single daily composite score. More modules are coming soon.