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Cascade Autopsy: BTC — 2026-11-04 ($289.2M liquidated)

2026-11-04 · Hunter-Killer · 6

Cascade Autopsy #74: BTC, 2026-11-04

hunterkiller.io · All numbers from our multi-venue tape · Graded, not estimated


Summary

Field Value
Date/Time 2026-11-04 15:04 UTC
Dominant Symbol BTCUSDT
Total Liquidated $289.2M
Duration 5m 0s
Raw Events 6,662 (independent re-read)
Venues binance, bitfinex, bitget, bybit, deribit, dydx, gateio, hyperliquid, kraken_fut, okx
Direction predominantly SHORT liquidations (96% 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 $236.0M 2742 81.6%
2 ETHUSDT $37.2M 1543 12.9%
3 SOLUSDT $5.6M 499 1.9%
4 ZECUSDT $2.7M 426 0.9%
5 BNBUSDT $1.4M 77 0.5%

Timeline (UTC)

Minute Events USD Top Symbol Venues
15:03 330 $3.6M ETHUSDT binance, bitget, bybit, deribit, gateio, hyperliquid, okx
15:04 4367 $141.2M BTCUSDT binance, bitget, bybit, deribit, dydx, gateio, hyperliquid, kraken_fut, okx
15:05 1578 $103.5M BTCUSDT binance, bitfinex, bitget, bybit, deribit, dydx, gateio, hyperliquid, kraken_fut, okx
15:06 306 $20.0M BTCUSDT binance, bitget, bybit, deribit, gateio, hyperliquid, okx
15:07 46 $490,975 ETHUSDT binance, bitget, bybit, gateio, hyperliquid, okx
15:08 578 $26.8M BTCUSDT binance, bitget, bybit, deribit, gateio, hyperliquid, kraken_fut, okx
15:09 170 $2.2M BTCUSDT binance, bitget, bybit, gateio, hyperliquid, okx
15:10 92 $256,978 1000PEPEUSDT binance, bitget, bybit, gateio, hyperliquid, okx

What the Magnet Field Showed BEFORE the Cascade

Snapshot: 2026-11-04T15:03:08Z, 1 minutes before cascade start. Anchor price at snapshot: $79,474.73

Model calibration (per-symbol): - precision@N (OOS) = 44.8% (n=358, CI 95% lower bound: 39.6%) | walk-forward window: 720h Calibrated: 2026-11-05T22:48:28Z

What this means: The predictive-liquidation model places levels in the top N ranked zones that matched real liquidation clusters in 45% of OOS evaluation windows (n=358, CI 95% lower bound: 39.6%). This is the measured zone-accuracy, not a forecast of whether a cascade will start.

Level assessment: 11 REACHED / 12 MISSED (both shown; misses are never hidden)

Leverage Side Predicted Price Status Mass (relative)
None× short $81,322.52 REACHED 321562636
None× short $80,845.67 REACHED 212368033
None× long $79,295.91 REACHED 202450246
None× short $80,130.40 REACHED 179218317
None× short $79,534.34 REACHED 175253721
None× short $79,772.76 REACHED 175003647
None× short $80,368.82 REACHED 140567745
75× short $79,633.68 REACHED 60454246
50× short $79,633.68 REACHED 36495286
100× short $79,633.68 REACHED 24314833
25× short $80,587.38 REACHED 5706701
None× long $78,103.79 MISSED 233244898
None× long $78,819.06 MISSED 210844639
None× long $79,057.49 MISSED 187099860
75× long $77,090.49 MISSED 167413315
None× long $77,865.37 MISSED 110880024
75× short $78,362.08 MISSED 91324335
100× long $77,408.39 MISSED 81562531
50× long $76,454.69 MISSED 77067690
None× long $77,388.52 MISSED 67131757
100× short $78,044.18 MISSED 44672632
50× short $78,997.88 MISSED 41712406
25× long $75,183.09 MISSED 10993235

Caveats: These are predicted liquidation cluster ZONES from our 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 calibration figures (with n= and 95% CI lower bound) in the Model calibration section above are measured on past levels from the same model; past hits do not promise future hits.

Venue Breakdown

Our tape covers multiple venues independently: cross-venue coverage is the moat.

Venues active: binance, bitfinex, bitget, bybit, deribit, 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, so 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.

Responder Co-fire n Shock Beta Same-bar Move Next-bar Move
ADAUSDT 9 1.45 -0.23% 0.05%
SUIUSDT 9 1.42 -0.26% 0.15%
LINKUSDT 9 1.39 -0.20% 0.07%
ETHUSDT 9 1.35 -0.11% 0.12%
AVAXUSDT 9 1.24 -0.22% 0.07%

Interpretation: symbols with shock_beta > 1.0 historically moved MORE than the source symbol during similar cascade events. This is a historical observation (n shown per pair), not a forecast of future co-movement.

Accuracy Metadata

Your Take

Is your bag on this list? BTCUSDT, ETHUSDT, SOLUSDT were the symbols hit hardest in this cascade. Were you watching the short level at $81,322.52? 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. NEVER auto-published: owner-approved before any post goes live (v1 policy). Data: 6,662 events from our multi-venue tape (real captured data, not model-estimated). Hit rates are measured on past levels from the same model; past hits do not promise future hits.

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