How to read this page
Three numbers, in this order — don't reverse them:
- Alignment — how lopsided the up/down split is. This decides which direction you investigate next.
- Median move — how far the group shifted. Median rather than mean, so a single outlier can't distort it.
- Dispersion — the gap between the best and worst performer. A wide gap means something individual is happening on top of the shared move.
| What you see | Most likely | Check next |
|---|---|---|
| Over 85% aligned, meaningful median move | Systemic pressure | Markets outside crypto first (L2 macro), then liquidations and leverage (L3) |
| Over 85% aligned, but all moves small | Ordinary variation | Probably no identifiable driver; no need to look for one |
| Split roughly evenly, wide dispersion | Not systemic | Look up the specific events behind the biggest movers (L4) |
| Aligned overall, but one asset far off | Systemic plus an individual story | Investigate both separately; don't explain everything with one cause |
The full five-step procedure is in why is crypto crashing today; each layer's diagnostic cues are in the four layers.
What this page will not do
Everything on this page has already happened: the last 24 hours of price change. It doesn't predict direction, publish targets or suggest timing, and nothing here implies you should act because a tile turned red or green. The correct response to “the whole market is down” is to go find out why, not to trade.
Three practical caveats:
- The 24 hours is a rolling window, not a calendar day. It rolls continuously, so the same number means something different at different times of day.
- Moves are quoted against USDT. If the quoting stablecoin itself dislocates, this column distorts — rare, but it has happened.
- One venue's spot pairs only. The same asset differs slightly between venues. Fine for magnitude; for anything precise, check the platform you actually use.
A note about red and green
Some markets colour rises red and falls green; most crypto exchanges do the opposite. This page follows the exchange convention — and prints a signed number on every tile, so the colour is decoration rather than information. That's not a small point: misreading caused by inconsistent colour conventions is common when you look across markets.