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In short: you want to know whether to be in the crypto market at all, or to sit it out. This tool gives one slow reading, long or flat (in or out), from two inputs: how stretched prices are against what holders paid for their coins, and whether money is being added to the system or drained from it. It has switched about once a year, so use it for the big picture, not as a reason to change a plan you already hold. Tool: get_market_regime One reading: long or flat, with the date it last changed and the two independent inputs that produced it.

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Two readings, and either one can say stay out

They are independent. One is on-chain valuation, the other is a central bank’s balance sheet. The signal says be in only when neither is asking you to be out. That is the stricter rule: requiring both to agree before leaving would be weaker.

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It is measured in months, not days

This is not a reason to change a plan somebody is holding. Over 14 years it has switched 17 times: roughly once a year. A signal that turns once a year cannot be the thing consulted before a trade, and reading it that way is the main way it gets misused.
The current reading, as of 2026-09-12, has stood since 2026-02-06.

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What it has been worth

Measured on BTC from 2012-07-16, with a 730-day lookback and a 0.75 band: Look first at the time in the market. The signal was out of the market for nearly two-thirds of that period. The case for a signal like this is the drawdown it avoided. A simple hold also delivered the return over the same span, with far deeper falls along the way.

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The inputs are readable on their own

get_macro returns the balance sheet arithmetic this is computed from, for anybody who would rather see the input than the verdict.