{
  "schema_version": "1.0",
  "date": "2026-06-22",
  "generated_at": "2026-06-23T06:30:44Z",
  "as_of_session": "2026-06-22 close",
  "archive_note": "Historical daily archive. Crypto and meme beta use CoinGecko UTC close-to-close changes for 2026-06-22; weekly Fed/Treasury and global liquidity context uses the 2026-06-19 Friday report where applicable.",
  "source": "XPOWERFLOW",
  "signal": {
    "urli": -66.5,
    "projected_urli": 43.5,
    "bias": "bearish",
    "confidence": "medium",
    "read": "Bearish liquidity contraction",
    "gmlci": 22.0
  },
  "tanks": [
    {
      "id": "tga",
      "label": "TGA",
      "value_usd": 956502000000,
      "delta_7d_usd": 155418000000,
      "level_pct": 92.7,
      "last_week_pct": 70.4,
      "avg_1m_pct": 79.1,
      "avg_3m_pct": 78.6,
      "liquidity_effect": "drain",
      "as_of": "2026-06-19",
      "cadence": "weekly H.4.1/FRED"
    },
    {
      "id": "fed_balance_sheet",
      "label": "Fed B/S",
      "value_usd": 6736424000000,
      "delta_7d_usd": 11027000000,
      "level_pct": 100,
      "last_week_pct": 94.5,
      "avg_1m_pct": 91.5,
      "avg_3m_pct": 84.5,
      "liquidity_effect": "add",
      "as_of": "2026-06-19",
      "cadence": "weekly H.4.1/FRED"
    },
    {
      "id": "bank_reserves",
      "label": "Bank reserves",
      "value_usd": 2936362000000,
      "delta_7d_usd": -175092000000,
      "level_pct": 19.8,
      "last_week_pct": 51.8,
      "avg_1m_pct": 38.8,
      "avg_3m_pct": 39.0,
      "liquidity_effect": "drain",
      "as_of": "2026-06-19",
      "cadence": "weekly H.4.1/FRED"
    },
    {
      "id": "rrp",
      "label": "RRP",
      "value_usd": 335625000000,
      "delta_7d_usd": 18327000000,
      "level_pct": 10.5,
      "last_week_pct": 5.0,
      "avg_1m_pct": 5.8,
      "avg_3m_pct": 8.5,
      "liquidity_effect": "drain",
      "as_of": "2026-06-19",
      "cadence": "weekly H.4.1/FRED"
    }
  ],
  "flow_nodes": [
    {
      "id": "us_net_cash",
      "label": "US Net Cash",
      "value_label": "-162.7B",
      "sub": "Fed assets − TGA − RRP",
      "level_pct": 38.9,
      "last_week_pct": 69.2,
      "avg_3m_pct": 52.6,
      "liquidity_effect": "drain",
      "cadence": "weekly H.4.1/FRED",
      "as_of": "2026-06-19",
      "calibrating": false
    },
    {
      "id": "risk_assets",
      "label": "Risk Assets",
      "value_label": "URLI -66.5",
      "sub": "Bearish liquidity contraction",
      "level_pct": 5.0,
      "last_week_pct": 83.0,
      "avg_3m_pct": 50.5,
      "liquidity_effect": "drain",
      "cadence": "weekly URLI-Core %ile",
      "as_of": "2026-06-19",
      "calibrating": false
    },
    {
      "id": "crypto_beta",
      "label": "Crypto Beta",
      "value_label": "$2.29T",
      "sub": "Total crypto market cap",
      "level_pct": 50.0,
      "last_week_pct": null,
      "avg_3m_pct": null,
      "liquidity_effect": "drain",
      "cadence": "daily CoinGecko",
      "as_of": "2026-06-22",
      "calibrating": true
    },
    {
      "id": "meme_beta",
      "label": "Meme Beta",
      "value_label": "$30B",
      "sub": "Meme-token market cap",
      "level_pct": 50.0,
      "last_week_pct": null,
      "avg_3m_pct": null,
      "liquidity_effect": "drain",
      "cadence": "daily CoinGecko",
      "as_of": "2026-06-22",
      "calibrating": true
    }
  ],
  "daily_macro": {
    "date": "2026-06-22",
    "cadence": "daily",
    "tga_usd": null,
    "rrp_usd": 3925000000.0,
    "tga_change_d_usd": null,
    "rrp_change_d_usd": 3674000000.0,
    "tga_change_d_bil": null,
    "rrp_change_d_bil": 3.674,
    "source": "Daily TGA/RRP cache",
    "available": true
  },
  "crypto_24h": {
    "btc": -1.57,
    "eth": -1.987,
    "sol": -1.022
  },
  "crypto_impact_index_24h": -1.612,
  "crypto_impact_weights": {
    "btc": 0.8367,
    "eth": 0.1359,
    "sol": 0.0274
  },
  "crypto_impact_method": "BTC/ETH/SOL dominance-weighted 24h change",
  "meme_beta_24h": {
    "doge": -1.68,
    "shib": -2.083,
    "pepe": -1.638,
    "bonk": -2.359,
    "pengu": -2.512
  },
  "meme_beta_index_24h": -2.054,
  "meme_beta_method": "Equal-weight 24h change across DOGE/SHIB/PEPE/BONK/PENGU",
  "events": [],
  "read_through": {
    "liquidity_signal": "bearish",
    "price_action_24h": "bearish",
    "state": "confirming",
    "endogenous_offset": null,
    "auto_explanation": null,
    "note": null
  },
  "summary_plain": "URLI is -66.50 (Bearish liquidity contraction); projected URLI is +43.50 next week. Daily TGA TBD; daily RRP +$3.7B."
}