# Thru Capital Market Intelligence > Real-time, multi-venue digital asset microstructure telemetry, deterministic state-space classification, and quantitative order-flow intelligence. Thru Capital operates an institutional market data and interpretation stack aggregating tick-level order books, trades, liquidations, and derivatives reflexivity metrics across canonical cryptocurrency venues (Binance, Bybit, Coinbase, OKX, Deribit, Hyperliquid). Telemetry is classified in real-time into deterministic regimes (Absorption, Compression, Expansion, Exhaustion) and synthesized into machine-readable JSON contracts, compounded markdown journals, and high-density vector visualizations. All public telemetry feeds, API contracts, and documentation under `/data/v1/` and `/ontology` are open access for quantitative research, autonomous agent ingestion, and LLM reasoning. ## Canonical Web Interfaces - [Market Intelligence Overview](https://thru.capital/): Primary platform dashboard and cross-venue system status. - [Live Microstructure Feed](https://thru.capital/microstructure): Real-time running intraday market reviews and session chapters. - [4-Layer Semantic Ontology](https://thru.capital/ontology): Mathematical glossary and structural definitions for regimes, leverage tiers, and order flow metrics. - [Infrastructure Specifications](https://thru.capital/infrastructure): ClickHouse architecture, hot/cold storage tiers, and hardware isolation standards. - [Technical Documentation](https://thru.capital/docs): Engine specifications, MCP protocol integration, and data settlement ledgers. - [Model Context Protocol Registry](https://thru.capital/.well-known/mcp-server): Machine discovery endpoint for remote Model Context Protocol (MCP) server integration. ## Live Microstructure & Intraday Feeds - [Latest Market Review (Markdown)](https://thru.capital/data/v1/microstructure/latest.md): The live, single most recent Bitcoin market review in Markdown format for fast LLM RAG ingestion. - [Latest Market Review (JSON)](https://thru.capital/data/v1/microstructure/latest.json): The structured Pydantic JSON contract containing executive summary, regime confidence, and order flow asymmetry. - [Deterministic Market Facts (JSON)](https://thru.capital/data/v1/microstructure/facts.json): Real-time ground-truth per-venue volume delta (CVD), spot/perp asymmetry, resting order book depth walls, and active absorption defense across 9 connected venues. - [Intraday Running Feed (JSON)](https://thru.capital/data/v1/microstructure/feed.json): Chronological JSON array of all session milestone contracts for the current UTC trading epoch. ## Historical Archive Endpoints (Parameterized) - [Historical Market Facts (JSON)](https://thru.capital/data/v1/microstructure/btc/2026-08-28/facts.json): Deterministic per-venue telemetry snapshot for a specific date (format: YYYY-MM-DD). - [Historical Session Journal (Markdown)](https://thru.capital/data/v1/microstructure/btc/2026-08-27/journal.md): Compounded daily markdown article compiling all intraday session milestones for a specific date (format: YYYY-MM-DD). - [Historical Session Feed (JSON)](https://thru.capital/data/v1/microstructure/btc/2026-08-27/feed.json): Complete chronological JSON array of session milestones for a specific date (format: YYYY-MM-DD). - [Daily AI Manifest & Similarity Clusters (JSON)](https://thru.capital/data/v1/microstructure/btc/2026-08-26/report.json): Daily 24h chart manifest, macro telemetry proofs, and FAISS nearest-neighbor historical analogs. - [Regime Waterfall Map (SVG)](https://thru.capital/data/v1/microstructure/btc/2026-08-26/charts/waterfall.svg): 24h cross-venue structural regime visualization in vector SVG format. - [Squeeze Radar Map (SVG)](https://thru.capital/data/v1/microstructure/btc/2026-08-26/charts/radar.svg): Cross-venue derivatives crowdedness, open interest velocity, and funding rate vector map. - [CVD Divergence Map (SVG)](https://thru.capital/data/v1/microstructure/btc/2026-08-26/charts/cvd.svg): Aggregated Spot vs Perpetual Cumulative Volume Delta with passive order book imbalance heatmap. ## Academy - [Academy Index](https://thru.capital/academy): 26 lessons on order flow, market microstructure, crypto derivatives, auction theory and risk; a new lesson is released daily. - [Order Flow Mechanics](https://thru.capital/academy/order-flow): hub and lesson list. - [Market Microstructure](https://thru.capital/academy/microstructure): hub and lesson list. - [Crypto Perpetual Derivatives](https://thru.capital/academy/crypto-derivatives): hub and lesson list. - [Auction Market Theory & TPO Profile](https://thru.capital/academy/auction-theory): hub and lesson list. - [Quantitative Risk & Behavioral Performance](https://thru.capital/academy/risk-performance): hub and lesson list. ### Latest Lessons - [Double Distribution Days: Trading Single Print Vacuum Zones](https://thru.capital/academy/auction-theory/double-distribution-days-single-print-vacuums) - [Anchored VWAP and T-Size Institutional Fair Value Bands](https://thru.capital/academy/crypto-derivatives/anchored-vwap-t-size-institutional-fair-value) - [Heavy-Tail Microstructure: Why Gaussian Risk Models Fail](https://thru.capital/academy/microstructure/heavy-tail-distributions-crypto-microstructure) - [Finished vs Unfinished Auctions: Microstructure of Zero Prints](https://thru.capital/academy/order-flow/finished-vs-unfinished-auctions-zero-prints) - [The 5 Core Footprint Visualizations and Cluster Profiles](https://thru.capital/academy/order-flow/types-of-footprint-charts-cluster-profiles) - [Direct Market Access vs Retail CFD Routing: Execution Latency](https://thru.capital/academy/microstructure/direct-market-access-vs-cfd-routing-latency) - [Fixed Daily Drawdown Ceilings: Institutional Prop Governance](https://thru.capital/academy/risk-performance/fixed-daily-drawdown-ceilings-prop-governance) - [Single Print Buying and Selling Tails: Identifying OTF Excess](https://thru.capital/academy/auction-theory/single-prints-buying-selling-tails-otf-excess) - [Trade Size Filtering: Segmenting Institutional Whales from Retail](https://thru.capital/academy/crypto-derivatives/trade-size-filtering-whale-order-segmentation) - [How to Detect Institutional Iceberg Orders on Level 2 DOM](https://thru.capital/academy/microstructure/detecting-iceberg-orders-level-2-dom) - [Delta Momentum Indicators and Pure Order Flow Delta Bars](https://thru.capital/academy/order-flow/delta-momentum-indicators-delta-bars) - [Tranche Position Sizing: The One-Third Pilot Entry Framework](https://thru.capital/academy/risk-performance/tranche-position-sizing-pilot-entry-framework) - [Spot vs Perpetual Futures Delta Divergence in Crypto Markets](https://thru.capital/academy/crypto-derivatives/spot-vs-perpetual-futures-delta-divergence) - [Position Sizing as a Function of Invalidation Risk Distance](https://thru.capital/academy/risk-performance/position-sizing-invalidation-risk-distance) - [Initial Balance Dynamics: Trading 1.5x to 3.0x Range Extensions](https://thru.capital/academy/auction-theory/initial-balance-trading-range-extensions) - [Open Interest Delta Telemetry: Tracking Organic Accumulation](https://thru.capital/academy/crypto-derivatives/open-interest-delta-telemetry-crypto-perps) - [Reading Depth of Market Ladders and Binance RPDOM Liquidity](https://thru.capital/academy/microstructure/depth-of-market-ladders-binance-rpdom) - [Footprint Bar Statistics: Intra-Bar Delta Min and Delta Max](https://thru.capital/academy/order-flow/footprint-bar-statistics-delta-min-max) - [TPO Market Profile vs Volume Profile: Time vs Volume Acceptance](https://thru.capital/academy/auction-theory/tpo-market-profile-vs-volume-profile-acceptance) - [Cumulative Volume Delta: Detecting Absorption vs Exhaustion](https://thru.capital/academy/order-flow/cumulative-volume-delta-absorption-exhaustion) ## Optional & Extended Context - [Complete LLM Context (Full Text)](https://thru.capital/llms-full.txt): Comprehensive documentation including complete ontology definitions, mathematical formulas, and data schemas.