Euphoria Score
Tracking market overheating conditions, starting with Bitcoin
Live Module
Bitcoin Euphoria Score
Last updated: Apr 23, 2026, 04:00 PM UTC
The market is warming up. Btc open interest, fear & greed index, btc funding rate are trending above baseline. Early signs of speculative interest are building.
Score History
Metric Breakdown
BTC Funding Rate
25% weight
+5.9 pts
Funding rate is -0.0028%, near neutral. No strong directional bias in perpetual markets.
BTC Open Interest
25% weight
+9.3 pts
Open interest is $2.9B, 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
+5.3 pts
Alts and BTC are performing similarly (spread: -1.2pp). Balanced market conditions.
Fear & Greed Index
15% weight
+6.9 pts
Fear & Greed Index is at 46 (Fear). Market sentiment is balanced.
Macro Risk Proxy
10% weight
+3.0 pts
Macro conditions are risk-off. Market is down 1.3% with subdued volume. Risk appetite is low.
What is Driving the Score
Weighted contribution of each metric to the composite score of 66.2
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.