{
  "title": "Passive Absorption Walls in Compression (BTC) — October 18, 2026",
  "waterfall_summary": "Active regime tracking on **Binance Futures** recorded 186,812 baseline state blocks concentrated in structural [compression](https://thru.capital/ontology#compression-coiling) during the Asian and London sessions. Volatility metrics on **[Deribit]** anchored around the CME baseline of 45.2, reflecting subdued institutional hedging pressure.\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": "Order flow asymmetry remained predominantly neutral to bullish at 65% signal strength across **[Bybit Linear]** before shifting into a [liquidation cascade](https://thru.capital/ontology#liquidation-cascade) at 19:47 UTC. Total downside [expansion](https://thru.capital/ontology#expansion-discovery) compressed reference prices from $82,058.00 down to a low of $80,772.20 on **Binance Futures**.\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** / BTC-PERP | [Passive Absorption](https://thru.capital/ontology#passive-absorption) | 2026-10-18T00:20:27 | 330.4 | 420 Events |\n| **Bybit Linear** / BTC-PERP | [Liquidation Cascade](https://thru.capital/ontology#liquidation-cascade) | 2026-10-18T19:47:28 | 29.4 | 42 Cascades |\n\nPassive [absorption](https://thru.capital/ontology#absorption-the-wall) walls absorbed aggressive selling at $81,433.60 on **[Deribit]**, with 420 structural absorption events offsetting initial bearish pressure. Cumulative volume delta diverged positively as buyers defended structural support prior to the late-session daily wrap at $81,780.00.\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": "2026-10-18",
  "historical_clusters": [
    {
      "distance_score": 0,
      "timestamp_ns": 1792367927523000000,
      "date_str": "2026-10-18",
      "url": "https://thru.capital/microstructure/btc/2026-10-18",
      "regime": 0,
      "leverage_tier": 0,
      "efficiency_ratio": 0.31191269,
      "oi_velocity": 0
    },
    {
      "distance_score": 0.006646156311035156,
      "timestamp_ns": 1788441607808339700,
      "date_str": "2026-09-03",
      "url": "https://thru.capital/microstructure/btc/2026-09-03",
      "regime": 0,
      "leverage_tier": 0,
      "efficiency_ratio": 0.31553951,
      "oi_velocity": 0
    },
    {
      "distance_score": 0.006949424743652344,
      "timestamp_ns": 1787107346073002800,
      "date_str": "2026-08-19",
      "url": "https://thru.capital/microstructure/btc/2026-08-19",
      "regime": 0,
      "leverage_tier": 0,
      "efficiency_ratio": 0.31266968,
      "oi_velocity": 0
    }
  ]
}