{
  "title": "Passive Absorption Walls in Expansion (BTC) — September 13, 2026",
  "waterfall_summary": "Active regime distribution across **[Binance Futures]** and **[Bybit Linear]** totaled 145,537 balance state blocks, dominated by low-conviction range-bound activity. Imbalanced downside expansion originated during the **[Deribit]** session poll at $77,130.60, triggering 37 failed expansions and 12 [liquidation cascades](https://thru.capital/ontology#liquidation-cascade).\n\n*[Extract the raw multi-venue Parquet tick data for this epoch via thrunode_archive](https://thru.capital/allocate)*",
  "radar_summary": "Market participants navigated persistent structural friction with 16 instances of [momentum exhaustion](https://thru.capital/ontology#momentum-exhaustion) noted at the London open price of $76,958.50. Historical analogs exhibit identical structural [compression](https://thru.capital/ontology#compression-coiling) profiles matching 2026-09-13 under low [efficiency ratios](https://thru.capital/ontology#delta-efficiency).\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))",
  "cvd_summary": "Orderbook telemetry across **[Binance Futures]** recorded 212 [passive absorption](https://thru.capital/ontology#passive-absorption) events with a confidence rating of 166.4. Delta divergence intensified at the daily wrap reference price of $76,741.90 as aggressive selling was neutralized by resting institutional bids.\n\n*[Extract the raw multi-venue Parquet tick data for this epoch via thrunode_archive](https://thru.capital/allocate)*",
  "date": "2026-09-13",
  "historical_clusters": [
    {
      "distance_score": 0,
      "timestamp_ns": 1789343879404764700,
      "date_str": "2026-09-13",
      "url": "https://thru.capital/microstructure/btc/2026-09-13",
      "regime": 3,
      "leverage_tier": 0,
      "efficiency_ratio": 0.1143464,
      "oi_velocity": 0
    },
    {
      "distance_score": 0.040218353271484375,
      "timestamp_ns": 1785208205883202000,
      "date_str": "2026-07-28",
      "url": "https://thru.capital/microstructure/btc/2026-07-28",
      "regime": 3,
      "leverage_tier": 0,
      "efficiency_ratio": 0.1175044,
      "oi_velocity": 0
    },
    {
      "distance_score": 0.050342559814453125,
      "timestamp_ns": 1789126680308616000,
      "date_str": "2026-09-11",
      "url": "https://thru.capital/microstructure/btc/2026-09-11",
      "regime": 3,
      "leverage_tier": 0,
      "efficiency_ratio": 0.14228958,
      "oi_velocity": 0
    }
  ]
}