market summary derived

{
  "input": {
    "type": "http",
    "method": "GET",
    "queryParams": {
      "pair": "BTC-USD",
      "window": "30m"
    }
  },
  "output": {
    "type": "json",
    "example": {
      "asOf": "2026-07-15T14:00:00.000Z",
      "pair": "BTC",
      "source": {
        "chain": "https://www.deribit.com/api/v2/public/get_book_summary_by_currency?currency=BTC&kind=option",
        "index": "https://www.deribit.com/api/v2/public/get_index_price?index_name=btc_usd",
        "trades": "DripMetrics BTC trade cache",
        "summary": "Claude (Anthropic), constrained to the deterministic signals in this payload"
      },
      "window": "30m",
      "metrics": {
        "vpin": 0.38,
        "cvdBase": -212.4,
        "kyleLambda": 2.47191e-7,
        "vpinExcess": 0.24,
        "vrpVolPoints": 0.062,
        "gammaFlipLevel": 104800.5,
        "largeTradeShare": 0.22,
        "tradesPerMinute": 812.4,
        "buySellImbalance": -0.14,
        "gexNetUsdPer1Pct": 182000000,
        "momentumLogReturn": -0.0021,
        "vpinEstimatedNull": 0.14,
        "realizedVolAnnualized": 0.52,
        "kyleLambdaDollarsPer1Bp": 418387.7
      },
      "signals": {
        "activity": "busy",
        "liquidity": "normal",
        "orderFlow": "sell-leaning",
        "priceTrend": "drifting-lower",
        "volatility": "normal",
        "dealerGamma": "dampening",
        "flowToxicity": null,
        "volRiskPremium": "options-rich",
        "largeTraderShare": "typical"
      },
      "summary": "BTC order flow over the last 30 minutes is modestly sell-side. Raw VPIN is 0.38 versus an estimated finite-sample baseline of 0.14, leaving excess VPIN of 0.24. Liquidity is normal at roughly $418k of flow per basis point. Positive dealer gamma may dampen moves while implied volatility remains rich to realized volatility.",
      "coverage": {
        "partialData": false,
        "errorMessage": null,
        "completeFetch": true,
        "coverageRatio": 1,
        "effectiveWindowMinutes": 30,
        "requestedWindowMinutes": 30
      },
      "lastPrice": 108050.2,
      "confidence": 0.94,
      "disclaimer": "Informational description of observed market conditions and their historical tendencies; not investment advice or a trade recommendation.",
      "sampleSize": {
        "trades": 24310,
        "optionsInstruments": 612
      },
      "summaryModel": "claude-opus-4-8"
    }
  }
}