$ETH order flow entered its most toxic decile at a VPIN of 0.1498, the 95th percentile. Readings in this zone have historically clustered before volatility, and this VPIN level says nothing about direction.
Since 2026, days in this mid band saw a median -0.9% BTC move over the next 7d (n=34, base -0.4%, 1y of records). History, not a forecast.
September 2, 2026 89 1
