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Waterline: Market LiquidityThe current depth regime, its main drivers, and what is failing to confirm.Tide Map: What Is ApproachingLive unlock, official U.S. macro, reviewed FOMC, and BTC and ETH dated-futures windows. Governance and upgrades remain visibly unconfigured.Today’s Market ReadingOne plain-language synthesis of what changed and why it matters.Live SignalsShort, timestamped Signals linked to the evidence underneath them.15-Second Depth CheckThe current claim, evidence, warning, and invalidation in four mobile frames.Daily Market ReferenceThe open-data instrument wall for today’s market context.My WatchlistRemember a browser-local baseline with no sign-in, wallet, or server sync.

Markets

Market OverviewThe open-data price board with compact depth context.ChainsWhere liquidity sits by ecosystem.ProtocolsWhere liquidity sits by venue, category, and chain.StablecoinsPeg stress, circulating USD market value, and cash-layer reads.Depeg MemoryStored fixed-reference stress observations, recovery context, and coverage limits.Yield ProvenanceReview the dormant base-versus-reward method and its visible license-blocked source state.Crypto ETFsIdentity-verified U.S. direct and staked spot profiles, mandate-gated primary-market flow, and coverage.Tokenized AssetsWrappers, custody, redemption access, and source trails.Product PassportsReviewed product claims, sources, control coverage, redemption paths, and current evidence receipts kept separate.LeverageOpen interest, funding, and leverage pressure.Market FlowsCross-venue premiums, funding, and the direction of the tide.Compare ProductsSide-by-side product reads, with no winner theatre.Market LabThe full shelf of leverage, flow, narrative, cycle, and experimental instruments.Country Evidence AtlasThirty-three market reference points with adoption, venue, mining, stablecoin, and regulatory evidence kept in separate lanes.Liquidity OceanGlobal money, funding pressure, reported currents, and crypto transmission kept on their real data clocks.Bitcoin Holder DepthUTXO-age supply, old-coin spending, cost basis, and miner context with method and coverage visible.Signal LabThe Deep 11 selected from 88 monitored assets, with the score, overlays, evidence, and invalidation visible.ReefAltcoin, RWA, revenue, exploit, and sector indicators below the surface.Narrative LabAttention by channel and theme, kept beside market anchors rather than treated as proof.Cycle ClockBitcoin's halving epoch, issuance schedule, and trading-day context.Indicator Lab88 candidate instruments with connected, candidate, folklore, or insufficient status.Market IndicesExplainable Bathymark indices with components and source gates kept visible.

Risk

Risk CheckThe plain-language survival lane for people trying not to get wrecked.Product RiskBacking, liquidity, redemption, wrapper, source, and off-chain risk.Intelligence GraphTrace product control, dependencies, material changes, valuation inputs, and exit paths.The HelmSee recognized proxy, owner, Safe, timelock, pause, and privileged-role control paths.Notice to MarinersRead source-backed changes to code, control, roles, pause state, and verification.Oracle WatchInspect mapped valuation dependencies and the fields still withheld as unresolved.Exit SoundingCompare fixed-block market-exit simulations with published primary redemption paths.Wallet SafetyA pre-flight for keys, approvals, drainers, and wallet separation.Exploits and HazardsRecent sourced incidents and the limits of the coverage.Cash LayerStablecoin USD market value, reference-price health, and cash-layer stress.Token UnlocksUpcoming supply events sized in dollars.

Research

Research ObservatorySource-located crypto research claims, conflicting evidence, reproduction state, and current-validity coverage.ReportsCiteable templates and source-backed research shelves.DispatchesPlain-language newsroom reads.Evidence LedgerEvery pressure window, unresolved outcome, correction, and calibration field kept in public.Public RecordCalls, revisions, and calibration history kept in public.Bathymark AcademyTwelve source-backed pathways and 44 lessons across depth, Bitcoin evidence, custody, exposure and exit, decision operations, AI, testing, and risk.SOUNDING MethodThe eight-step evidence workflow from a bounded question to a recorded outcome.Claim CheckSeparate a recorded statement or coverage gap from dated review scope, dependency provenance, missing proof, and falsifiers.Decision LedgerA browser-local record of evidence, counterevidence, invalidation, review, and one outcome. No account sync.How Signals WorkThe evidence and limits behind each reading type.LearnPlain-language glossary.MethodologyHow the water is read and what is not claimed.Trust CenterOne human and machine-readable index of sources, methods, AI boundaries, corrections, and public outcomes.Editorial PolicyAccountability, conflicts, AI assistance, bylines, and corrections.Data sourcesPublic access, reuse rights, freshness, limits, and failure modes kept separate.What this isThe thesis behind Bathymark.After DarkAstronomy and crypto folklore, clearly separated from market analysis.

Pro

PlansFree current reads, Plus beta, Analyst Pro, and team workflow.Enterprise DeskTeam workflow for research, compliance, wallets, exchanges, and funds.Sample reportThe flagship source-backed report for tokenized asset review.Report shelfSample deliverables and citeable report templates.

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Bathymark

Read the depth before you touch the token.

Built on open data. Liquidity, fees and supply figures via the open DeFiLlama API; Ethereum block height via a public RPC. Readings are information, not advice.

TodayWaterline: Market Liquidity Tide Map: What Is Approaching Today’s Market Reading Live Signals Daily Market Reference Public Record My Watchlist After Dark

Markets & riskMarket Overview Chains Protocols DEXes Stablecoins Depeg Memory Yield Provenance Crypto ETFs Tokenized Assets Product Passports Tokenized gold Tokenized silver Tokenized Treasuries Compare Products Risk Check Product Risk Intelligence Graph The Helm Notice to Mariners Oracle Watch Exit Sounding Market Indices Market Lab Liquidity Ocean Bitcoin Holder Depth Signal Lab Reef Narrative Lab Cycle Clock Indicator Lab

ResearchResearch Observatory Reports Dispatches Evidence Ledger How Signals Work Bathymark Academy SOUNDING Method Claim Check Decision Ledger Learn Methodology Trust Center Data sources What this is

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Holder Depth
Age strata

Overview Supply Spending Cost basis Age strata Miners Revisions Method Sources

Age strata

Twelve fixed layers from the surface to ten years deep.

Age Strata groups live supply into fixed UTXO-age bands. Band positions and definitions stay stable across history and method versions.

Present readingThe chart will publish only when every band reconciles to the same defined UTXO snapshot.

The current reading is waiting for a verified Bitcoin snapshot. The method and source rules remain available.

Evidence instrumentThe strata are defined, not populatedUTXO facts, external price, and method assumptions stay on separate rails.

01

Young supplyUnder 155 days

Owned snapshot pending

02

Mature supplyAt least 155 days

Owned snapshot pending

03

Fixed bandsFrom under 1 day to 10+ years

Method locked

04

Realized bandsUSD weighted

Approved price contract required

UTXOs and addresses are not people. Pending evidence never becomes zero or a flat market.

proof contract

What invalidates this reading.

What this cannot prove

Coin age resets on spend even when economic ownership may not have changed.

Falsifier

Any age-band sum or UTXO count that fails to match the defined live set invalidates the entire chart.

Method btc-utxo-cohort-v1. Information, not financial advice.

Holder Depth overview Bitcoin Signal Lab