Mid-range valuation, coins leaving exchanges

Drivers, at the time

• MVRV1.9967 · 66th pct
• Net exchange flow (30d)1,324.707
• Exchange reserve Δ (90d)-67,489.7401
• Realized volatility (30d)0.6928 · 63rd pct

What the panel said at the time

Pre-snapshot: computed. This period entered before the daily Read snapshot began (2026-09-21) - the drivers above are the classifier's own recorded values for that day, computed after the fact from this same regime_transitions row, not a stored point-in-time Read.

What followed

Description of the past, not a forecast.