{
  "title": "Passive Absorption Walls in Expansion (BTC) — September 10, 2026",
  "waterfall_summary": "Daily structural telemetry across **[Deribit]**, **[Binance Futures]**, and **[Bybit Linear]** recorded 141,217 dominant baseline balance blocks against 8,912 contraction phases. Volatility regimes transitioned through an early downside expansion before settling into repeated [absorption](https://thru.capital/ontology#absorption-the-wall) tiers.\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": "Market participants navigated persistent [liquidation cascades](https://thru.capital/ontology#liquidation-cascade) totaling 42 confirmed events across venues with 29.4 confidence parameters. Funding trajectories remained constrained as [momentum exhaustion](https://thru.capital/ontology#momentum-exhaustion) neutralized directional persistence.\n\n## Verified Execution & Macro Proofs\n\n• baseline risk-free levels\n*[Extract the raw multi-venue Parquet tick data for this epoch via thrunode_archive](https://thru.capital/allocate)*",
  "cvd_summary": "| Venue/Instrument | Event Type | Time (UTC) | Confidence | Key Metric |\n| :--- | :--- | :--- | :--- | :--- |\n| **[Binance Futures]** BTCUSDT | [Passive Absorption](https://thru.capital/ontology#passive-absorption) | 2026-09-10T04:00:38 | 216.6 | 278 structural counts |\n| **[Bybit Linear]** BTCUSDT | [Liquidation Cascade](https://thru.capital/ontology#liquidation-cascade) | 2026-09-10T12:57:06 | 29.4 | $76,663.10 reference |\n| **[Deribit]** Options/Perp | [Momentum Exhaustion](https://thru.capital/ontology#momentum-exhaustion) | 2026-09-10T13:11:48 | 36.0 | 48 [exhaustion](https://thru.capital/ontology#exhaustion-the-fade) prints |\n\nPassive bids on **[Binance Futures]** absorbed aggressive selling during the London open, neutralizing downward [CVD](https://thru.capital/ontology#cvd) divergences at the $76,818.80 **[Bybit Linear]** settlement zone. Orderbook imbalances stabilized as institutional resting liquidity rebuilt structural support.\n\n## Verified Execution & Macro Proofs\n\n• the 10-year Treasury yield\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))\n\n*[Extract the raw multi-venue Parquet tick data for this epoch via thrunode_archive](https://thru.capital/allocate)*",
  "date": "2026-09-10",
  "historical_clusters": [
    {
      "distance_score": 0,
      "timestamp_ns": 1789084677085568800,
      "date_str": "2026-09-10",
      "url": "https://thru.capital/microstructure/btc/2026-09-10",
      "regime": 0,
      "leverage_tier": 0,
      "efficiency_ratio": 0.15450207,
      "oi_velocity": 0
    },
    {
      "distance_score": 0.031269073486328125,
      "timestamp_ns": 1788935272840839400,
      "date_str": "2026-09-09",
      "url": "https://thru.capital/microstructure/btc/2026-09-09",
      "regime": 0,
      "leverage_tier": 0,
      "efficiency_ratio": 0.1805799,
      "oi_velocity": 0
    },
    {
      "distance_score": 0.03378582000732422,
      "timestamp_ns": 1788299265080663800,
      "date_str": "2026-09-01",
      "url": "https://thru.capital/microstructure/btc/2026-09-01",
      "regime": 0,
      "leverage_tier": 0,
      "efficiency_ratio": 0.16717371,
      "oi_velocity": 0
    }
  ]
}