Crypto Market Structure: Strength with Narrow Participation

YearBull US Market Structure Weekly

YearBull detected a split beneath the strong headline market reading. The Market Bull Index reached 81/100 on September 22, 2026, while equal-weight daily participation was 38.9%. The relationship between the 30-day structure and one-day participation is the central signal this week.

Observation date 2026-09-22Published September 22, 2026Author Alan ZelvinData Download CSV
Market Bull Index81/100Late Bull · +4 vs 7d
30d cap-weighted breadth97.9%94.8% data coverage
Daily participation38.9%9,500 eligible assets
Bitcoin reference$85,427+9.3% vs 7d

What changed this week

The MBI rose from 77 to 81 over seven days, moving from Bull Market to Late Bull. Bitcoin’s stored reference price gained +9.3% over the same window and +10.8% over 30 days. Total crypto market capitalization increased +10.7% over seven days and +13.1% over 30 days.

Trend (100.0%) and 30-day breadth (97.9%) are doing most of the work. The risk-balance component remains supportive at 80.9%. Liquidity (43.2%) and structure (38.2%) are materially weaker, reflecting turnover, dominance, and concentration conditions.

The important divergence

Capitalization-weighted 30-day breadth says that larger assets broadly remain above their month-earlier prices. Equal-weight daily participation says only 38.9% of 9500 eligible assets rose in the latest daily comparison. These readings are not contradictory: they use different horizons and weighting. Together they describe a strong medium-term regime with a selective latest session—exactly the kind of split an ordinary price table misses.

Market Bull Index — 90 daysThe index ended at 81/100; higher values indicate a more bullish aggregate regime.
95.073.351.529.88.02026-06-242026-09-22
Bitcoin reference price — indexed to 100A normalized context series; the first displayed observation equals 100.
145.7132.4119.0105.792.32026-06-252026-09-22
Current Market Bull Index componentsTrend and breadth are strong; liquidity and structure provide the main restraint.
0%25%50%75%100%100.0%Trend97.9%Breadth80.9%Risk balance43.2%Liquidity38.2%Structure
Equal-weight daily participationShare of eligible analytical assets with a positive daily price change.
87.2%68.3%49.5%30.7%11.8%2026-06-252026-09-22

Leadership snapshot

The table identifies the assets with the strongest completed YearBull Rank positioning. Unlike a raw return leaderboard, the rank rewards the quality of strength across momentum, liquidity, market-relative performance, stability, drawdown resilience, risk, and available history.

Rank Asset Bull Cycle 7d price
1 Pepe PEPE 72 Early 45.1%
2 Sui SUI 74 Early 42.1%
3 Avalanche AVAX 90 Early 42.9%
4 dogwifhat WIF 75 Early 36.7%
5 THORChain RUNE 80 Early 21.8%

Across the 9508 ordinary analytical ranks, the average Bull Score was 48.3. 1,028 assets scored 75–100, while 1,581 scored below 25. YB Market Risk was Low for 8,636 assets, Medium for 452, and High for 420. These labels describe observed market stress, not investment safety.

What would weaken the reading

  • A sustained fall in equal-weight participation rather than a single weak session.
  • Deteriorating trend or breadth with unchanged headline concentration.
  • Further weakness in liquidity while reported price strength persists.
  • A shift toward higher YB Market Risk across the analytical universe.

Distribution-ready summaries

X version
YearBull detected a split beneath the market headline.

MBI 81/100 (Late Bull), +4 vs 7d.
30d breadth: 97.9%
Assets up today: 38.9%

4 original charts + data:
https://yearbull.com/yearbull-us-market-structure-weekly-2026-09-22/
LinkedIn version
YearBull US Market Structure Weekly — September 22, 2026

YearBull detected a split beneath the strong headline market reading. The Market Bull Index is 81/100 in the Late Bull phase, +4 points over seven days, and capitalization-weighted 30-day breadth is 97.9%. Yet equal-weight daily participation is only 38.9%.

That combination matters: medium-term strength is broad, but the latest session is selective. Trend and breadth lead the regime; liquidity and structure remain the constraints.

See four original YearBull charts and download the underlying data:
https://yearbull.com/yearbull-us-market-structure-weekly-2026-09-22/
Email digest
Subject: YearBull found a split beneath the market headline — September 22, 2026

YearBull’s Market Bull Index closed at 81/100 (Late Bull), +4 points from a week earlier. Thirty-day cap-weighted breadth is 97.9%, but only 38.9% of eligible assets advanced in the latest daily comparison.

The signal: medium-term strength is broad, while the latest session is selective. Liquidity and structure—not trend—are the main constraints.

See four original charts and download the data: https://yearbull.com/yearbull-us-market-structure-weekly-2026-09-22/

Download all chart data (CSV) Download data dictionary (CSV)

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