{
  "title": "Passive Absorption Walls in Balanced Regimes (BTC) — October 21, 2026",
  "waterfall_summary": "Market remains in low-conviction chop across dominant state blocks. Structural stability is maintained by 187,975 balanced regime blocks distributed across **Binance Futures**, with volatility measured at 45.2 index points on **Deribit**. Macro risk profile reflects stabilizing macro architecture.",
  "radar_summary": "Funding trajectories across **Bybit Linear** and **Binance Futures** show persistent neutral-to-bullish order flow asymmetry reaching 65% signal strength during London session [absorption](https://thru.capital/ontology#absorption-the-wall) phases. Squeeze risks remain contained as [liquidation cascades](https://thru.capital/ontology#liquidation-cascade) totaled 59 discrete events with 41.3 confidence on **Binance Futures**.\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)*",
  "cvd_summary": "Passive liquidity walls absorbed aggressive selling across venues, registering 320 distinct [passive absorption](https://thru.capital/ontology#passive-absorption) events with a 252.8 confidence score on **Binance Futures**. Orderbook imbalances stabilized as price migrated from $82,613.70 to $84,476.80 during the daily rotation.\n\n| Venue/Instrument | Event Type | Time (UTC) | Confidence | Key Metric |\n|---|---|---|---|---|\n| Binance Futures / BTC | Passive [Absorption](https://thru.capital/ontology#absorption-the-wall) | 2026-10-21T09:45:42 | 252.8 | 320 Events |\n| Binance Futures / BTC | [Liquidation Cascade](https://thru.capital/ontology#liquidation-cascade) | 2026-10-21T13:48:44 | 41.3 | 59 Events |\n| Bybit Linear / BTC | [Momentum Exhaustion](https://thru.capital/ontology#momentum-exhaustion) | 2026-10-21T17:30:40 | 33.75 | 45 Events |\n\nPassive liquidity absorption dominated orderflow on **Binance Futures**, neutralizing downside pressure during the London session.\n\n*[Extract the raw multi-venue Parquet tick data for this epoch via thrunode_archive](https://thru.capital/allocate)*",
  "date": "2026-10-21",
  "historical_clusters": [
    {
      "distance_score": 0,
      "timestamp_ns": 1792627131885269000,
      "date_str": "2026-10-21",
      "url": "https://thru.capital/microstructure/btc/2026-10-21",
      "regime": 0,
      "leverage_tier": 0,
      "efficiency_ratio": 0.37415199,
      "oi_velocity": 0
    },
    {
      "distance_score": 0.0015511512756347656,
      "timestamp_ns": 1787318407254932500,
      "date_str": "2026-08-21",
      "url": "https://thru.capital/microstructure/btc/2026-08-21",
      "regime": 0,
      "leverage_tier": 0,
      "efficiency_ratio": 0.37668898,
      "oi_velocity": 0
    },
    {
      "distance_score": 0.0034208297729492188,
      "timestamp_ns": 1787203507300276200,
      "date_str": "2026-08-20",
      "url": "https://thru.capital/microstructure/btc/2026-08-20",
      "regime": 0,
      "leverage_tier": 0,
      "efficiency_ratio": 0.3669511,
      "oi_velocity": 0
    }
  ]
}