INTERPRETED / Undertow / source-grounded explanation
CRYPTO moves tighter by 0.05 inside NORMAL; funding reads EROSION.
4 of 9 segments score today; EQUITY, ETF, FX, CN, BSTOCK publish observations with their composites withheld. The funding overlay reads EROSION. The hottest qualifying measure is binance_btc_basis_bp, at percentile 45 of its own history; the coolest is HY Corporate Bond Market Distress Index (NY Fed CMDI), at 4.1. Inside HY the qualifying measures span 0.04 to 0.42; the tier is their mean. Read the measures, not just the tier.
THE SPECIALIST SAYS
CRYPTO moves tighter by 0.05 inside NORMAL; funding reads EROSION.
4 of 9 segments score today; EQUITY, ETF, FX, CN, BSTOCK publish observations with their composites withheld. The funding overlay reads EROSION. The hottest qualifying measure is binance_btc_basis_bp, at percentile 45 of its own history; the coolest is HY Corporate Bond Market Distress Index (NY Fed CMDI), at 4.1. Inside HY the qualifying measures span 0.04 to 0.42; the tier is their mean. Read the measures, not just the tier.
IN PLAIN ENGLISH
4 of 9 segments score today; EQUITY, ETF, FX, CN, BSTOCK publish observations with their composites withheld. The funding overlay reads EROSION. The hottest qualifying measure is binance_btc_basis_bp, at percentile 45 of its own history; the coolest is HY Corporate Bond Market Distress Index (NY Fed CMDI), at 4.1. Inside HY the qualifying measures span 0.04 to 0.42; the tier is their mean. Read the measures, not just the tier.
This fallback stays inside the source summary; the mental model below explains the mechanism without adding a market claim.
01 / COMPARISON
What changed
This source record does not publish a like-for-like prior observation, so MyQuant treats it as a cross-sectional snapshot and does not infer a trend.
02 / MECHANISM
Why this matters
Market-liquidity evidence matters when several holders may need the same exit, but a source tier is only as broad as its published coverage. Read the qualifying measures and missing segments before drawing a cross-market conclusion.
03 / NEXT TEST
What to check next
Check the next source board for coverage, tier changes, internal measure disagreement, and a change in the separate funding overlay. Missing segments must remain unknown rather than turning green.
04 / BOUNDARY
Where the reading stops
PARTIAL means a composite is withheld: a scored tier needs at least 2 measures with 60+ eligible observations and a 21-day span each, plus a passing registered replay and no failed negative control. Dated measure reports remain available; validation failures do not clear merely by accruing more history. Research and market data, not investment advice.