Morning market report

Charlie Morning Market Report. October 13, 2026.

The broader crypto market is under clear selling pressure this morning, with total market capitalization down 3.4% over the past 24 hours to $2.80 trillion, and the trend across most major coins is firmly pointing downward.

BTC is trading at $82,896, down 1.1% on the day. About 60% of the crowd holds leveraged bets on further gains, yet forced closures of those bullish positions are actively happening right now. In the past hour alone, short-side positions worth roughly $3.77 million were wiped out, dwarfing the $4,500 lost on the long side, which signals that price dropped sharply enough to catch short sellers off guard too.

ETH sits at $2,490, down 2.2%, with a notably high 76% of the crowd leaning bullish. Interestingly, the fee paid by traders betting on price increases has turned negative at minus 2.5% annualised, meaning it is currently the short sellers who are paying to hold their positions. About $2.88 million in short bets were forcibly closed in the past hour. XRP fell 2.9% to $1.365, with 72% of the crowd bullish but a very steep negative funding rate of minus 12.8% annualised, suggesting the derivatives market is skewed in an unusual direction despite retail sentiment. SOL is the hardest hit today, down 4.8% to $106.59, with forced closures of bullish leveraged bets actively occurring and over $342,000 in short positions also being swept out in the last hour.

Across the full market in the past 24 hours, over $673 million in bullish leveraged bets were forcibly closed, compared to just $93.5 million on the short side. That is a heavily one-sided flush, and BTC and ETH each contributed around $144 million to those long liquidations individually.

On ETF flows, Bitcoin spot ETFs recorded no net inflow yesterday, and the past seven days have seen a cumulative outflow of $489 million. That streak currently sits at neutral rather than continuing outflows, but the weekly picture remains firmly negative.

The Fear and Greed index reads 57, labelled "Greed," which sits in an uncomfortable contrast with the sharp price declines. Bitcoin dominance has risen to 59.4%, suggesting capital is rotating toward BTC relative to altcoins rather than leaving entirely. The VIX, a measure of expected volatility in traditional equity markets, sits at a calm 15.2, so the current crypto stress does not appear to be driven by broader financial panic today.

We also measure two internal heat scores for BTC and ETH, currently at 0.31 and 0.25 respectively on a scale where higher means more overheated. These are pure measurements we track over time, and we are not drawing conclusions from them as standalone signals.

Worth watching today: whether the large gap between retail bullish sentiment and actual price direction narrows, how ETF flow data develops after yesterday's flat session following a week of outflows, and whether SOL stabilises or continues to lead losses across major assets.