The $ETH order flow entered its most toxic decile, with VPIN at 0.1569 and the 96th percentile. 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 3, 2026 27 1
