{
  "title": "Passive Absorption Walls in Compression (BTC) — October 5, 2026",
  "waterfall_summary": "Market remains in low-conviction chop across primary venues, dominated by a dominant regime distribution state count of 172,527 blocks in [compression](https://thru.capital/ontology#compression-coiling). **[Binance Futures]** and **[Bybit Linear]** registered 341 passive absorption events with a confidence score of 264.8, anchoring the structure against 43 [liquidation cascades](https://thru.capital/ontology#liquidation-cascade). Volatility profile reflects stability matching the 45.2 index metric.\n\n*[Extract the raw multi-venue Parquet tick data for this epoch via thrunode_archive](https://thru.capital/allocate)*",
  "radar_summary": "Crowdedness metrics indicate neutral order flow asymmetry across global orderbooks, with low-conviction chop dictating the intraday range between $85,335.90 and $86,580.10. Squeeze risks remain mitigated as **[Deribit]** options positioning aligns with compressed realized volatility.",
  "cvd_summary": "| Venue/Instrument | Event Type | Time (UTC) | Confidence | Key Metric |\n|---|---|---|---|---|\n| Binance Futures / BTCUSDT | [Passive Absorption](https://thru.capital/ontology#passive-absorption) | 2026-10-05T06:56:06 | High (60%) | Delta Imbalance: +650 BTC |\n| Bybit Linear / BTCUSDT | [Liquidation Cascade](https://thru.capital/ontology#liquidation-cascade) | 2026-10-05T17:30:27 | Moderate (5500%) | Volume: $14.2M |\n\nPassive liquidity walls absorbed aggressive selling at the $85,901.80 inflection point on **[Binance Futures]**, neutralizing cumulative volume delta divergences during the London Fix.\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)*",
  "date": "2026-10-05",
  "historical_clusters": [
    {
      "distance_score": 9.5367431640625e-7,
      "timestamp_ns": 1791244713414656500,
      "date_str": "2026-10-05",
      "url": "https://thru.capital/microstructure/btc/2026-10-05",
      "regime": 3,
      "leverage_tier": 0,
      "efficiency_ratio": 0.13225945,
      "oi_velocity": 0
    },
    {
      "distance_score": 0.024911880493164062,
      "timestamp_ns": 1789299179925305000,
      "date_str": "2026-09-13",
      "url": "https://thru.capital/microstructure/btc/2026-09-13",
      "regime": 3,
      "leverage_tier": 0,
      "efficiency_ratio": 0.14236809,
      "oi_velocity": 0
    },
    {
      "distance_score": 0.02681732177734375,
      "timestamp_ns": 1790855707351108400,
      "date_str": "2026-10-01",
      "url": "https://thru.capital/microstructure/btc/2026-10-01",
      "regime": 3,
      "leverage_tier": 0,
      "efficiency_ratio": 0.14865881,
      "oi_velocity": 0
    }
  ]
}