$ETH order flow entered its most toxic decile, with VPIN at 0.1684 and a 99th percentile reading. Readings in this zone have historically clustered before volatility, and VPIN says nothing about direction.
Since 2026, days in this low band saw a median +1.1% BTC move over the next 7d (n=35, base -0.4%, 1y of records). History, not a forecast.
September 2, 2026 45 1
