Cascade autopsy: BTC, 2026-08-25 - $235.3M liquidated (n=3,601 tape events)

On 2026-08-25, our multi-venue tape recorded a BTC cascade: $235.3M in forced closes over 5 minutes (n=3,601 raw tape events in our own capture, not the whole market).

The liquidation map snapshot published 3 minutes before the start showed 17 levels; 9 were reached inside the cascade's traded range (n=17 levels, Wilson 95% lower bound 31%). Misses are shown at equal weight in the full autopsy.

The measured record at the time sat below its own validation gate - status only, per our honesty rules (the figure is not republished here).

Full re-verified anatomy (minute-by-minute timeline, before-map, venue breakdown): https://hunterkiller.io/autopsy/2026-08-25T0217-BTC

Descriptive record of a past event - not a forecast and not a trade signal.