Cascade Autopsy #34: BTC, 2026-09-18
hunterkiller.io · All numbers from our multi-venue tape · Graded, not estimated
Summary
| Field | Value |
|---|---|
| Date/Time | 2026-09-18 13:38 UTC |
| Dominant Symbol | BTCUSDT |
| Total Liquidated | $392.0M |
| Duration | 15m 13s |
| Raw Events | 10,067 (independent re-read) |
| Venues | binance, bitfinex, bybit, dydx, gateio, hyperliquid, kraken_fut, okx |
| Direction | predominantly SHORT liquidations (79% of events), price rose |
Source: trading.db/liquidation_events, independent re-read confirms headline numbers.
Top Symbols by USD Liquidated
| Rank | Symbol | USD | Events | Share |
|---|---|---|---|---|
| 1 | BTCUSDT | $327.7M | 4455 | 83.6% |
| 2 | ETHUSDT | $38.5M | 2811 | 9.8% |
| 3 | XRPUSDT | $10.9M | 329 | 2.8% |
| 4 | SOLUSDT | $8.8M | 1002 | 2.3% |
| 5 | ZECUSDT | $1.2M | 189 | 0.3% |
Timeline (UTC)
| Minute | Events | USD | Top Symbol | Venues |
|---|---|---|---|---|
| 13:37 | 118 | $757,636 | SOLUSDT | binance, bybit, gateio, hyperliquid, okx |
| 13:38 | 542 | $4.7M | BTCUSDT | binance, bybit, gateio, hyperliquid, kraken_fut, okx |
| 13:39 | 1691 | $30.7M | BTCUSDT | binance, bybit, gateio, hyperliquid, kraken_fut, okx |
| 13:40 | 1288 | $48.8M | BTCUSDT | binance, bitfinex, bybit, dydx, gateio, hyperliquid, kraken_fut, okx |
| 13:41 | 39 | $128,306 | ETHUSDT | binance, bybit, gateio, okx |
| 13:42 | 67 | $1.0M | BTCUSDT | binance, bybit, gateio, hyperliquid, okx |
| 13:43 | 107 | $1.2M | BTCUSDT | binance, bybit, dydx, gateio, hyperliquid, okx |
| 13:44 | 353 | $5.9M | BTCUSDT | binance, bybit, gateio, hyperliquid, kraken_fut, okx |
| 13:45 | 208 | $7.9M | BTCUSDT | binance, bybit, gateio, hyperliquid, okx |
| 13:46 | 1562 | $49.1M | BTCUSDT | binance, bitfinex, bybit, dydx, gateio, hyperliquid, kraken_fut, okx |
| 13:47 | 851 | $12.8M | BTCUSDT | binance, bybit, dydx, gateio, hyperliquid, kraken_fut, okx |
| 13:48 | 22 | $230,541 | BTCUSDT | binance, bybit, gateio, okx |
| 13:49 | 490 | $6.2M | ETHUSDT | binance, bitfinex, bybit, gateio, hyperliquid, kraken_fut, okx |
| 13:50 | 370 | $4.9M | BTCUSDT | binance, bitfinex, bybit, dydx, gateio, hyperliquid, kraken_fut, okx |
| 13:51 | 2364 | $218.0M | BTCUSDT | binance, bitfinex, bybit, dydx, gateio, hyperliquid, kraken_fut, okx |
| 13:52 | 164 | $1.2M | ETHUSDT | binance, bybit, gateio, hyperliquid, okx |
| 13:53 | 78 | $356,441 | UNIUSDT | binance, bybit, gateio, okx |
| 13:54 | 97 | $347,220 | ZECUSDT | binance, bybit, gateio, okx |
What the Magnet Field Showed BEFORE the Cascade
Snapshot: 2026-09-18T13:33:07Z, 4 minutes before cascade start. Anchor price at snapshot: $78,225.57
Model calibration (per-symbol): - precision@N (OOS) = 50.6% (n=358, CI 95% lower bound: 45.4%) | walk-forward window: 720h Calibrated: 2026-09-18T13:39:41Z
What this means: The predictive-liquidation model places levels in the top N ranked zones that matched real liquidation clusters in 51% of OOS evaluation windows (n=358, CI 95% lower bound: 45.4%). This is the measured zone-accuracy, not a forecast of whether a cascade will start.
Level assessment: 21 REACHED / 7 MISSED (both shown; misses are never hidden)
| Leverage | Side | Predicted Price | Status | Mass (relative) |
|---|---|---|---|---|
| None× | short | $80,044.31 | REACHED | 262839848 |
| None× | long | $76,876.18 | REACHED | 190650425 |
| None× | short | $79,574.96 | REACHED | 173586030 |
| None× | long | $77,580.21 | REACHED | 172340834 |
| None× | long | $78,049.56 | REACHED | 165479399 |
| None× | long | $77,814.89 | REACHED | 152932254 |
| None× | short | $78,870.93 | REACHED | 146490014 |
| None× | short | $78,284.24 | REACHED | 143249420 |
| None× | short | $78,518.92 | REACHED | 143045014 |
| 25× | short | $79,946.53 | REACHED | 120410728 |
| None× | short | $79,105.61 | REACHED | 114897692 |
| None× | long | $76,641.50 | REACHED | 90631452 |
| 50× | short | $78,382.02 | REACHED | 81950550 |
| None× | long | $76,172.15 | REACHED | 54872360 |
| 50× | long | $75,878.80 | REACHED | 47850330 |
| 75× | short | $77,756.22 | REACHED | 28947213 |
| 75× | short | $78,382.02 | REACHED | 26097328 |
| 75× | long | $76,504.61 | REACHED | 16672997 |
| 100× | short | $77,443.31 | REACHED | 12431190 |
| 100× | short | $78,382.02 | REACHED | 10086052 |
| 100× | long | $76,817.51 | REACHED | 7110708 |
| 10× | short | $84,327.16 | MISSED | 94847927 |
| 25× | long | $74,314.29 | MISSED | 73156640 |
| 10× | long | $69,933.66 | MISSED | 64856303 |
| 5× | short | $92,149.72 | MISSED | 34893302 |
| 5× | long | $62,111.10 | MISSED | 29337894 |
| 3× | long | $51,785.33 | MISSED | 17581707 |
| 3× | short | $102,475.50 | MISSED | 15694666 |
Caveats: These are predicted liquidation cluster ZONES from our walk-forward calibrated model, not leaked order-book data, not single prices but band estimates. REACHED = actual cascade price range came within 0.5% of the predicted level. MISSED levels are shown at equal weight, both reaches and misses are counted, never cherry-picked. The measured calibration (with n= and 95% CI lower bound) is stated in the Model calibration section above.
Venue Breakdown
Our tape covers multiple venues independently, cross-venue coverage is the moat.
Venues active: binance, bitfinex, bybit, dydx, gateio, hyperliquid, kraken_fut, okx
(Per-venue USD breakdown available via the live API at /market/cascade_autopsy. The tape covers all venues simultaneously, the cascade was multi-exchange.)
Contagion Propagation
Historical co-fire correlation, NOT causal evidence. Shared macro shocks produce simultaneous liquidations across symbols. Minimum 3 co-fire samples required to appear.
No contagion pairs found for BTCUSDT with n ≥ 3 co-fire samples in our correlation engine. This may mean insufficient history for this symbol, or no statistically reliable co-movement observed.
Accuracy Metadata
- Magnet model: OOS precision@N = 50.6% (n=358, CI 95% lower bound: 45.4%) | walk-forward window: 720h | calibrated: 2026-09-18T13:39:41Z
- Tape: 10,067 raw liquidation events from binance, bitfinex, bybit, dydx, gateio, hyperliquid, kraken_fut, okx
- Capture span: ~52 days of rolling multi-venue liq tape
- Independent verify: headline USD/count confirmed by independent DB re-read (PASS)
Your Take
Is your bag on this list? BTCUSDT, ETHUSDT, XRPUSDT were the symbols hit hardest in this cascade. Were you watching the short level at $80,044.31? It graded REACHED on our tape. Reply with the symbol and level you had on - reaches and misses both count here, and telling us where the model was wrong makes the next autopsy better.
Share this autopsy: hunterkiller.io/go/liq?c=autopsy-share&r=TG-CHANNEL
Autopsy published directly by the hunterkiller.io automated pipeline. Data: 10,067 events from our multi-venue tape (real captured data, not model-estimated). Accuracy model is walk-forward calibrated with precision@N and OOS score.
marketing_assets/live/autocard-card-autopsy-2026-09-18t1338-btc.png