THE LIQTIDE SCORE: 44/100 — NO CLEAR FLOW — 16 OCT 2026
44/100NO CLEAR FLOW (▲ was 30) · TREND TURNING UP
The Fed's balance sheet expanded $9.1B this month.
THE BOARD
| US NET LIQUIDITY | $5.87T | +$120.2B 4w |
| FED BALANCE SHEET | $6.76T | +$9.1B 4w |
| TREASURY WAR CHEST (TGA) | $885.8B | -$105.9B 4w |
| ON-RRP BUFFER | $1.2B | |
| STABLECOIN FLEET | $307.2B | -$1.8B 7d |
| BITCOIN | $82,326 | dominance 59.4% |
| SPOT ETF DESKS (5d NET) | -$138M |
SIGNALS
- GREEN · NETLIQ-RISING — US net liquidity 4-week change positive ($120.2B). Backdrop supportive.
- AMBER · RRP-EXHAUSTED — ON-RRP buffer nearly spent ($1.2B). No cushion left for the next drain.
- RED · STABLE-BURN — Stablecoin fleet shrank $1.8B in 7 days. Dry powder leaving the theater.
- AMBER · ETF-OUTFLOW — Spot BTC ETFs bled $138M over 5 sessions.
- RED · DOLLAR-SQUEEZE — Broad dollar in the top decile of its 1-year range. Offshore funding squeeze in effect.
THE READ
No clear flow: inflows and outflows are roughly balanced. The next decisive move in liquidity usually decides the tape. Trend: turning up.
THE LIQTIDE SCORE™ IS A PROPRIETARY 0–100 COMPOSITE OF GLOBAL LIQUIDITY FLOWS (OPEN METHODOLOGY). DATA: FRED / US TREASURY / NY FED / DEFILLAMA / COINGECKO / STOOQ / FARSIDE. QUOTE FREELY — ATTRIBUTION: LIQTIDE.COM. ANALYTICAL VISUALIZATION OF PUBLIC DATA — NOT INVESTMENT ADVICE.