{
  "title": "Passive Absorption in Range (BTC) — November 7, 2026",
  "waterfall_summary": "Market remains in low-conviction chop. The auction registered 210,906 balanced regime blocks alongside 176 instances of [passive absorption](https://thru.capital/ontology#passive-absorption) on **Binance Futures**, offset by 55 [failed expansion](https://thru.capital/ontology#failed-expansion) vectors during European liquidity hours.\n\n*[Extract the raw multi-venue Parquet tick data for this epoch via thrunode_archive](https://thru.capital/allocate)*",
  "radar_summary": "Derivative positioning reflects [compression](https://thru.capital/ontology#compression-coiling), with 18 [liquidation cascades](https://thru.capital/ontology#liquidation-cascade) recorded on **Bybit Linear** driving localized squeeze risks near the $75,600 pivot. Volatility markers on **Deribit** remained anchored as perpetual funding settled into neutral configurations.\n\n*[Extract the raw multi-venue Parquet tick data for this epoch via thrunode_archive](https://thru.capital/allocate)*",
  "cvd_summary": "Aggregate L2 telemetry details localized passive defense at key structural boundaries prior to the London and US cash sessions.\n\n| Venue/Instrument | Event Type | Time (UTC) | Confidence | Key Metric |\n|---|---|---|---|---|\n| **Binance Futures** (BTCUSDT) | [Passive Absorption](https://thru.capital/ontology#passive-absorption) | 2026-11-07T03:24:30 | 140.8 | 176 Event Count |\n| **Bybit Linear** (BTCUSDT) | [Failed Expansion](https://thru.capital/ontology#failed-expansion) | 2026-11-07T09:04:34 | 34.4 | 55 Event Count |\n| **Deribit** (BTC-PERP) | [Liquidation Cascade](https://thru.capital/ontology#liquidation-cascade) | 2026-11-07T21:31:09 | 12.6 | 18 Event Count |\n\nPassive liquidity walls absorbed aggressive selling at the $75,753 handle on **Binance Futures**, neutralizing downside [CVD](https://thru.capital/ontology#cvd) divergences during the late US session.\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": "2026-11-07",
  "historical_clusters": [
    {
      "distance_score": 0,
      "timestamp_ns": 1794095955021870800,
      "date_str": "2026-11-07",
      "url": "https://thru.capital/microstructure/btc/2026-11-07",
      "regime": 0,
      "leverage_tier": 0,
      "efficiency_ratio": 0.43223896,
      "oi_velocity": 0
    },
    {
      "distance_score": 0.0004119873046875,
      "timestamp_ns": 1791454808308726300,
      "date_str": "2026-10-08",
      "url": "https://thru.capital/microstructure/btc/2026-10-08",
      "regime": 0,
      "leverage_tier": 0,
      "efficiency_ratio": 0.4301566,
      "oi_velocity": 0
    },
    {
      "distance_score": 0.003551483154296875,
      "timestamp_ns": 1791779408292895200,
      "date_str": "2026-10-12",
      "url": "https://thru.capital/microstructure/btc/2026-10-12",
      "regime": 0,
      "leverage_tier": 0,
      "efficiency_ratio": 0.42398882,
      "oi_velocity": 0
    }
  ]
}