The market pulse,
distilled every hour.

{
  "schemaVersion": "3.1.0",
  "generatedAt": "2025-12-17T14:00:00Z",
  "windowStart": "2025-12-17T13:00:00Z",
  "windowEnd": "2025-12-17T14:00:00Z",
  "cryptoPulse": {
    "domain": "crypto",
    "moodIndex": 0.62,
    "moodDelta": 0.08,
    "trendingTickers": [
      "BTC",
      "ETH",
      "SOL"
    ],
    "wsbHeat": 0.71,
    "insights": {
      "quickTake": {
        "synopsis": "Crypto domain: positive momentum. BTC +2.8% (>$105K). Institutional flows active. Regulatory sentiment constructive. Community heat: 71%.",
        "topSignals": [
          {
            "headline": "BTC spot inflows: 3-day reversal to positive",
            "context": "Institutional re-entry detected. Options market pricing upside continuation."
          },
          {
            "headline": "L1 infrastructure: developer activity +40% WoW",
            "context": "GitHub commits and testnet deployments accelerating across major chains."
          },
          {
            "headline": "Regulatory framework: policymaker comments constructive",
            "context": "Market interpreting as reduced uncertainty. Sentiment boost detected."
          }
        ]
      },
      "focusAreas": [
        {
          "headline": "BTC: momentum extension above resistance",
          "stance": "bullish",
          "setup": "$104K break w/ volume. Spot ETF inflows accelerated.",
          "implication": "Sustained >$105K could trigger systematic buy programs.",
          "watchPoints": "Funding rates (overheating check). OI at $110K strike growing.",
          "linkedNarrativeIds": [
            "btc-institutional-2024-q4",
            "spot-etf-flow-dynamics"
          ]
        },
        {
          "headline": "L1 ecosystem: development cycle inflection",
          "stance": "bullish",
          "setup": "Dev metrics up 40% WoW. Testnet activity spiking.",
          "implication": "Infrastructure upgrades historically precede retail waves.",
          "watchPoints": "Mainnet dates. Grant announcements. Validator expansions.",
          "linkedNarrativeIds": [
            "l1-infrastructure-cycle",
            "developer-metrics-lead"
          ]
        }
      ],
      "outlook": "Constructive momentum. Institutional flows + dev activity accelerating. Correlation w/ equities high but declining. Key resistance: $108K."
    }
  },
  "tradfiPulse": {
    "domain": "tradfi",
    "moodIndex": 0.58,
    "moodDelta": 0.03,
    "trendingTickers": [
      "SPY",
      "QQQ",
      "GLD"
    ],
    "wsbHeat": 0.45,
    "insights": {
      "quickTake": {
        "synopsis": "TradFi domain: consolidation mode. SPY +0.4%. Tech leading (+1.2%). Low volatility (VIX <13). Year-end positioning active.",
        "topSignals": [
          {
            "headline": "Tech sector: continued outperformance",
            "context": "Mega-cap +1.2% avg. Q1 earnings revisions positive."
          },
          {
            "headline": "Volatility: compression into year-end",
            "context": "VIX sub-13. Options pricing minimal disruption through Jan."
          },
          {
            "headline": "Rates: curve steepening paused",
            "context": "10Y-2Y stable ~35bp. Cut expectations pushed to Q2."
          }
        ]
      },
      "focusAreas": [
        {
          "headline": "Year-end flows: quality growth favored",
          "stance": "bullish",
          "setup": "Large-cap growth inflows accelerated. Tax-loss harvesting complete.",
          "implication": "Window dressing may support mega-cap tech into year-end.",
          "watchPoints": "Volume patterns. Gap risk around holidays. Jan effect setup.",
          "linkedNarrativeIds": [
            "year-end-positioning",
            "quality-rotation"
          ]
        }
      ],
      "outlook": "Consolidation. Low vol. Thin holiday liquidity ahead. Bias: quality growth. Limited catalysts until earnings (mid-Jan)."
    }
  },
  "correlationLayer": {
    "status": "mixed",
    "correlationIndex": 0.68,
    "btcChange24h": 2.8,
    "priceAnchorsUsed": {
      "btcChange24h": 2.8,
      "spyChange24h": 0.4
    },
    "analysis": "Correlation: 0.68 (elevated). Divergence emerging. BTC outperformance suggests idiosyncratic drivers (flows, regulatory) gaining importance vs. broad risk.",
    "confidence": "medium",
    "notes": "24h window limited. Monitor 7d rolling for trend confirmation."
  },
  "marketMovement": {
    "crypto": {
      "label": "Rally",
      "reason": "Institutional flows + infrastructure narratives",
      "confidence": 0.72
    },
    "tradfi": {
      "label": "Consolidation",
      "reason": "Year-end positioning, low vol, thin liquidity",
      "confidence": 0.68
    }
  },
  "dataQuality": {
    "partialStreams": [],
    "confidence": "high"
  },
  "macroClusters": []
}