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25. 7. 2026
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Market regime live
Risk regime · reading the tapeNeutral
The one thing today

While equity momentum remains in a structural uptrend, a rising US Dollar (120.5) and tightening 10Y yields (4.71%) are capping crypto's upside, requiring a pullback in the DXY below 118 to unlock a broader risk-on rally.

60Neutral
BearishNeutralBullish

We are seeing a clear divergence as equities maintain a 70/100 Risk-on regime backed by tight credit spreads, while crypto remains stuck in a mixed 50/100 neutral regime with low altcoin participation. This hesitation is driven by macro headwinds, as both the USD and Treasury yields push higher, acting as a valuation anchor. Until these macro pressures ease, capital is likely to favor defensive equity leaders over high-beta digital assets.

25. 7. 2026·as of 07:15·crypto + stocks
Cross-asset · what's driving risk
US DollarHeadwind
120.5
▲ 0.2% · dollar bid, risk headwind
US 10YTightening
4.71%
▲ 4bp · yields rising
GoldHedge
$4,054
live spot · debasement / haven bid
Crude · WTICost push
$84.4
▲ 1.1% · adds cost-push
Crypto regimeMixed
BTC dominanceBalanced
56.5%
balanced book
Altcoin seasonBTC-led
29 / 100
14 of top 50 beat BTC 30d
Fear & GreedFear
27
fear · balanced mood
Perp funding · OIMild long
+0.008%/8h
≈ +9% APR · balanced carry
Stocks regimeRisk-on
Trend · SPXUptrend
7,412
▲ 5.8% vs 200DMA · above the 200DMA
BreadthMixed
≈ 60%est
est · share of S&P > 200DMA
VIXCalm
18.7
▲ 12.4% · vol contained
HY creditTight
277 bp
▲ 9bp · credit calm
⚑︎What would change my mindconfirmations & flip-risks
A sustained hold of the S&P 500 above its 200-day moving average confirms the structural equity bull market remains intact despite macro noise.
⚠︎If the US 10-Year yield climbs past 4.85%, expect a rapid contraction in equity multiples and a deeper correction in crypto majors.
⚠︎A spike in the VIX above 22 accompanied by widening high-yield credit spreads would signal a systemic shift from neutral to risk-off.
Top crypto
The Club · ONDO up to $0.376 (1.34x vs entry)
Multi-year hold. 100% deployed · $0 dry powder · 13 assets.
Open Crypto
Top stocks
Uncertainty Surrounds July Fed Meeting Amid Dissents and Rate Hike Odds
A highly divided Fed with multiple dissents could signal that the path of monetary policy is far less predictable than the market currently assumes, potentially triggering bond and equity volatility.
Open Stocks
What's expectedacross both books, next 1–2 weeks
Monitoring weekly US Treasury auction demand to gauge if yield expansion is peaking.Macro
Tracking BTC dominance levels for signs of capital rotating back into high-beta altcoins.Crypto
S&P 500 breadth expansion check to see if more than 60% of constituents can reclaim their 200DMAs.Equities
Generated from today's sources qualitative read, no buy/sell calls