THE RECORD

Thursday, February 26, 2026

Bitcoin ignited daily with a 100 whale move, while Ethereum and Solana shifted to distribution, signaling a volatile market with balanced risk appetite. The risk gauge sits at 44, reflecting a neutral regime where policy remains on hold despite mild liquidity support. This divergence between aggressive BTC ignition and stable ETH/SOL distribution suggests a macro environment where volatility is the primary driver.

3 briefs published · Regime: NEUTRAL · Risk gauge: 44/100

✳ MORNING BRIEF 08:00 UTC

RISK-ON regime. Risk gauge at 44.

NEUTRALLOW_STRESS

Neutral regime · · Neutral. Risk appetite is balanced. Policy stance is on hold: no clear tightening or easing impulse is dominating. Liquidity is mildly supportive, bu

RISK GAUGE

DRIVERS

Financial conditions flo+3.0

HY spread widening (risk-2.0

Real yields falling (ris+1.9

Inflation expectations f-1.1

◐ MARKET PULSE 13:00 UTC

BTC Ignition · 100 whale moves

IGNITIONWHALE ALERT

BTC daily ignition, 4h ignition · ETH daily bullish, 4h distribution · SOL daily bullish, 4h distribution

SIGNAL STATES

BTC 1DIgnition

ETH 1DBullish

SOL 1DBullish

WHALE MOVES

BCH?

BTC?

◑ EVENING WRAP 21:00 UTC

Newsletter and news intelligence digest.

BEARISH SKEW🌍 Changes in mult

Newsletter and news intelligence digest.

NEWS SENTIMENT

Bullish2 stories

Bearish3 stories

Neutral0 stories

CALENDAR

🌍 Changes in multiclasMar 12

🇺🇸 Net long-term capitaMar 11

🇺🇸 Imports (US $100 milMar 8