{
  "title": "Passive Absorption Walls in Compression (BTC) — October 9, 2026",
  "waterfall_summary": "Market remains in low-conviction chop. The dominant macro regime transition registered 176,795 stable structural blocks across venues, characterized by low-velocity range-bound trading on **Binance Futures**. Volatility metrics registered **[45.20 bps (Source Date: 2026-06-24)](https://www.cmegroup.com/markets/cryptocurrencies/bitcoin/bitcoin.html)** at 45.2 on **[Deribit]**, while broader risk architecture showed structural stability during the London-to-NY transition.",
  "radar_summary": "Market remains in low-conviction chop. Funding trajectories remained neutral across **[Bybit Linear]** and **[Binance Futures]** with order flow asymmetry hovering at 50% signal strength. Treasury inflows of $220,000,000 on **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))** provided underlying liquidity without triggering aggressive squeeze risks.",
  "cvd_summary": "Market remains in low-conviction chop.\n\n| Venue/Instrument | Event Type | Time (UTC) | Confidence | Key Metric |\n| :--- | :--- | :--- | :--- | :--- |\n| **Binance Futures** | [Passive Absorption](https://thru.capital/ontology#passive-absorption) | 2026-10-09T07:38:54 | 265.4 | 340 Events |\n| **Bybit Linear** | [Momentum Exhaustion](https://thru.capital/ontology#momentum-exhaustion) | 2026-10-09T19:45:43 | 32.25 | 43 Events |\n\nPassive limit walls absorbed aggressive selling on **[Binance Futures]** during the 07:38 UTC regime shift, matching historical analogs from 2026-10-09.\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": "2026-10-09",
  "historical_clusters": [
    {
      "distance_score": 0,
      "timestamp_ns": 1791590316283098600,
      "date_str": "2026-10-09",
      "url": "https://thru.capital/microstructure/btc/2026-10-09",
      "regime": 0,
      "leverage_tier": 0,
      "efficiency_ratio": 0.8154648,
      "oi_velocity": 0
    },
    {
      "distance_score": 0.0630035400390625,
      "timestamp_ns": 1789416778998296000,
      "date_str": "2026-09-14",
      "url": "https://thru.capital/microstructure/btc/2026-09-14",
      "regime": 0,
      "leverage_tier": 0,
      "efficiency_ratio": 0.76612607,
      "oi_velocity": 0
    },
    {
      "distance_score": 0.08510971069335938,
      "timestamp_ns": 1788490068162162400,
      "date_str": "2026-09-04",
      "url": "https://thru.capital/microstructure/btc/2026-09-04",
      "regime": 0,
      "leverage_tier": 0,
      "efficiency_ratio": 0.80009453,
      "oi_velocity": 0
    }
  ]
}