> ## Documentation Index
> Fetch the complete documentation index at: https://docs.clearviewportal.app/llms.txt
> Use this file to discover all available pages before exploring further.

# Macro

> Cross-asset context — crypto prices alongside traditional market indicators and stablecoin flows.

The Macro page puts crypto in context by showing Bitcoin and Ethereum prices next to traditional market benchmarks and stablecoin flows — the three layers that define the environment crypto trades in.

## What you'll see

The dashboard is split into two sections: cross-asset prices at the top and stablecoin supply below. Together, they answer "is money flowing into risk assets, and is it reaching crypto specifically?"

### Cross-Asset Overview

<CardGroup cols={2}>
  <Card title="BTC & ETH Prices" icon="bitcoin-sign">
    Current spot prices from Binance with 24h change and sparklines. The two assets that define crypto market sentiment — BTC for macro direction, ETH for altcoin risk appetite.
  </Card>

  <Card title="S&P 500 (SPX)" icon="chart-line">
    The benchmark US equity index. When SPX sells off hard, crypto rarely escapes the correlation — especially in the first 24 hours.
  </Card>

  <Card title="VIX (Volatility Index)" icon="bolt">
    The market's fear gauge. VIX below 15 means complacency; above 30 means panic. Crypto tends to sell off alongside equities when VIX spikes, then decouple on the recovery.
  </Card>

  <Card title="DXY (Dollar Index)" icon="dollar-sign">
    The US dollar's strength against major currencies, proxied from the Federal Reserve's trade-weighted index (DTWEXBGS). A strong dollar competes with risk assets for capital.
  </Card>

  <Card title="Gold (XAU)" icon="coins">
    The traditional safe haven. When gold and BTC rise together, the narrative is "store of value." When gold rises and BTC drops, it's pure risk-off — capital is fleeing to safety, not alternatives.
  </Card>
</CardGroup>

### Stablecoin Supply

<Tabs>
  <Tab title="What it shows">
    Total stablecoin market capitalization and its breakdown by chain and by issuer (USDT, USDC, DAI, and others). Data comes from DefiLlama, which aggregates on-chain supply across all major blockchains.
  </Tab>

  <Tab title="How to read it">
    * **Total supply growing** = new dollars entering the crypto ecosystem. This is the most direct measure of fiat-to-crypto inflows.
    * **Total supply shrinking** = dollars leaving. Redemptions signal reduced appetite for crypto exposure.
    * **Chain distribution shifts** = capital rotating between ecosystems. USDT dominance on Tron signals emerging-market flows; USDC dominance on Ethereum signals institutional activity.
  </Tab>

  <Tab title="What to watch for">
    Stablecoin supply is a **leading indicator**. It tends to grow before major crypto rallies (capital positioning) and shrink before extended drawdowns (capital exiting). A 5%+ monthly increase in total supply historically precedes periods of positive crypto returns.
  </Tab>
</Tabs>

<Tip>
  Stablecoin supply growth is one of the few leading indicators in crypto. When total supply expands for 2+ consecutive weeks while BTC price is flat, it often means capital is staging on the sidelines — ready to deploy but waiting for a catalyst.
</Tip>

## Data sources

| Metric            | Source                               | Update frequency               |
| ----------------- | ------------------------------------ | ------------------------------ |
| BTC/ETH prices    | Binance REST — `/api/v3/ticker/24hr` | \~1 minute                     |
| S\&P 500          | EODHD Real-time API                  | \~1 minute during market hours |
| VIX               | EODHD Real-time API                  | \~1 minute during market hours |
| DXY               | FRED — `DTWEXBGS` series             | Daily                          |
| Gold              | EODHD Real-time API                  | \~1 minute during market hours |
| Stablecoin supply | DefiLlama — `/stablecoins`           | \~30 minutes                   |

<Note>
  DXY is not available as a live ticker from EODHD. We proxy it through the Federal Reserve's trade-weighted dollar index (DTWEXBGS), which updates daily. For intraday dollar moves, watch USD/JPY and EUR/USD on the [Markets](/platform/markets) page instead.
</Note>

## Tips

* **DXY above 105 is historically a headwind for crypto.** Sustained dollar strength compresses risk asset valuations, and crypto is not immune. Below 100, the tailwind is real — weaker dollar means more liquidity seeking returns.
* **VIX spikes above 30 signal risk-off.** Crypto often sells off with equities during these episodes, even if the trigger is purely a traditional finance event. The correlation is highest in the first 48 hours of a VIX spike.
* **Cross-asset divergence is rare but powerful.** If BTC is rising while SPX is falling for more than a few days, it suggests crypto is trading on its own narrative — not just following the macro tide. These periods tend to produce the strongest trending moves.
* **Watch stablecoin supply, not just BTC price.** Price can rise on leverage alone (check [Derivatives](/platform/derivatives) for funding rates). But stablecoin supply growth means actual new dollars — that's real demand, not synthetic.
* **Use the AI Chat for macro synthesis.** Ask "What's the current macro environment for crypto?" and the Macro Agent will pull all these indicators and synthesize them into a single directional narrative.