{
  "title": "Passive Absorption Walls in Balance (BTC) — September 16, 2026",
  "waterfall_summary": "During the Asia initial balance session on **[Binance Futures]**, the asset opened at $75,825.00 under a regime distribution dominated by state block 3 (148,214 counts) reflecting structural stability. Across the daily cycle, **[Deribit]** telemetry recorded 262 instances of [passive absorption](https://thru.capital/ontology#passive-absorption) with a confidence score of 203.4, stabilizing volatility against minor [expansion](https://thru.capital/ontology#expansion-discovery) attempts.\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))\n\n*[Extract the raw multi-venue Parquet tick data for this epoch via thrunode_archive](https://thru.capital/allocate)*",
  "radar_summary": "Intraday progression registered 60 [liquidation cascade](https://thru.capital/ontology#liquidation-cascade) events on **[Bybit Linear]** with a confidence score of 42.0, while [momentum exhaustion](https://thru.capital/ontology#momentum-exhaustion) totaled 48 occurrences at 36.0 confidence. Squeeze risks remained neutralized as order flow asymmetry fluctuated strictly within neutral-to-bullish defensive bounds.\n\n## Verified Execution & Macro Proofs\n\n• baseline risk-free levels\n• the 10-year Treasury yield\n\n*[Extract the raw multi-venue Parquet tick data for this epoch via thrunode_archive](https://thru.capital/allocate)*",
  "cvd_summary": "Orderbook imbalances at the London fix ($75,678.70 reference price) demonstrated persistent passive bids absorbing aggressive selling on **[Binance Futures]**. Historical analog matching against 2026-08-14 confirmed identical low-velocity [efficiency ratios](https://thru.capital/ontology#delta-efficiency) of 0.1906 under balanced institutional positioning.",
  "date": "2026-09-16",
  "historical_clusters": [
    {
      "distance_score": 0,
      "timestamp_ns": 1789603083372755500,
      "date_str": "2026-09-16",
      "url": "https://thru.capital/microstructure/btc/2026-09-16",
      "regime": 0,
      "leverage_tier": 0,
      "efficiency_ratio": 0.19441685,
      "oi_velocity": 0
    },
    {
      "distance_score": 0.004828214645385742,
      "timestamp_ns": 1786736406370411500,
      "date_str": "2026-08-14",
      "url": "https://thru.capital/microstructure/btc/2026-08-14",
      "regime": 0,
      "leverage_tier": 0,
      "efficiency_ratio": 0.19061945,
      "oi_velocity": 0
    },
    {
      "distance_score": 0.005246400833129883,
      "timestamp_ns": 1787397307038605600,
      "date_str": "2026-08-22",
      "url": "https://thru.capital/microstructure/btc/2026-08-22",
      "regime": 0,
      "leverage_tier": 0,
      "efficiency_ratio": 0.2090162,
      "oi_velocity": 0
    }
  ]
}