{
  "title": "Passive Absorption Walls in Compression (BTC) — September 9, 2026",
  "waterfall_summary": "Market remains in low-conviction chop across the primary state blocks, registering 139,636 intervals in regime 3 while transitioning into an imbalanced downside [expansion](https://thru.capital/ontology#expansion-discovery) ending the daily wrap at $77,988.90 on **Binance Futures**. Volatility telemetry on **Deribit** measures CME Bitcoin volatility at 45.2.\n\n## Verified Execution & Macro Proofs\n\n• [45.20 bps (Source Date: 2026-06-24)](https://www.cmegroup.com/markets/cryptocurrencies/bitcoin/bitcoin.html)\n• 420,000,000 USDT ([220,000,000 USDT on Ethereum](https://etherscan.io/tx/0x6f257356f4d8bc030c6200318b84373e9c9e24065971cf6d9e0865480616f925), [100,000,000 USDT on Ethereum](https://etherscan.io/tx/0x00440492fef809c4e36e7f972d5ce15ab7760d322d53341fa9b3953d2ec96fbf), [100,000,000 USDT on Ethereum](https://etherscan.io/tx/0x0c66d50a3ac9e7e40eda0b5149bdc2271fe51552560364e860a6d4ddf22cfa3d))",
  "radar_summary": "[Liquidation cascades](https://thru.capital/ontology#liquidation-cascade) materialized during the London open session with 51 total liquidation events, causing aggressive structural re-pricing down from $79,645.00 to $79,058.80 on **Bybit Linear**. Squeeze risks manifested heavily as [momentum exhaustion](https://thru.capital/ontology#momentum-exhaustion) triggered 52 distinct deceleration sequences across global venues.\n\n*[Extract the raw multi-venue Parquet tick data for this epoch via thrunode_archive](https://thru.capital/allocate)*",
  "cvd_summary": "[Passive absorption](https://thru.capital/ontology#passive-absorption) dominated orderbook flow with 254 detected instances, where resting bids absorbed aggressive selling pressure on **Binance Futures**. \n\n| Venue/Instrument | Event Type | Time (UTC) | Confidence | Key Metric |\n|---|---|---|---|---|\n| Binance Futures / BTC-PERP | Passive [Absorption](https://thru.capital/ontology#absorption-the-wall) | 2026-09-09T11:33:49Z | 198.0 | 254 Events |\n| Bybit Linear / BTC-PERP | [Liquidation Cascade](https://thru.capital/ontology#liquidation-cascade) | 2026-09-09T09:42:15Z | 35.7 | $79,058.80 Ref |\n\nPassive liquidity walls repeatedly defended local value areas before failing into the final scheduled poll session.\n\n*[Extract the raw multi-venue Parquet tick data for this epoch via thrunode_archive](https://thru.capital/allocate)*",
  "date": "2026-09-09",
  "historical_clusters": [
    {
      "distance_score": 4.76837158203125e-7,
      "timestamp_ns": 1788998275404972800,
      "date_str": "2026-09-09",
      "url": "https://thru.capital/microstructure/btc/2026-09-09",
      "regime": 3,
      "leverage_tier": 0,
      "efficiency_ratio": 0.08756702,
      "oi_velocity": 0
    },
    {
      "distance_score": 0.010451316833496094,
      "timestamp_ns": 1786358406374414300,
      "date_str": "2026-08-10",
      "url": "https://thru.capital/microstructure/btc/2026-08-10",
      "regime": 3,
      "leverage_tier": 0,
      "efficiency_ratio": 0.08616347,
      "oi_velocity": 0
    },
    {
      "distance_score": 0.014271736145019531,
      "timestamp_ns": 1781741401731833300,
      "date_str": "2026-06-18",
      "url": "https://thru.capital/microstructure/btc/2026-06-18",
      "regime": 3,
      "leverage_tier": 0,
      "efficiency_ratio": 0.07997052,
      "oi_velocity": 0
    }
  ]
}