# Liquidation cascade on 2026-08-25

On 2026-08-25 our detector flagged $145.98M of forced closures across 3 detected bursts. Everything below is read from the real liquidation feed, not estimated: these are closures the exchanges actually broadcast.

Source: https://bykaranteli.com/incidents/2026-08-25 · attribute to ByKaranteli and quote the timestamp.
Snapshot taken 2026-08-25T21:30:00.000Z.

This page documents what was liquidated, not why the move started. A cascade is the amplifier, rarely the trigger.

| Measure | Value |
| --- | ---: |
| Force-closed (USD) | $145.98M |
| Longs (share of total, USD) | 64%, $93.60M |
| Shorts (share of total, USD) | 36%, $52.38M |
| Bursts (30 minute windows over threshold) | 3 |

## Every burst on this day

| Window (UTC) | Total (USD) | Longs (USD) | Shorts (USD) | Coins swept | BTC move (%) |
| --- | ---: | ---: | ---: | --- | ---: |
| 02:00 to 02:30 | $48.73M | $911.6K | $47.82M | BTCUSDT, ETHUSDT, ZECUSDT | +1.43% |
| 13:30 to 14:00 | $32.26M | $28.95M | $3.31M | BTCUSDT, ETHUSDT, SNDKUSDT | +0.06% |
| 21:00 to 21:30 | $65.00M | $63.74M | $1.26M | BTCUSDT, ETHUSDT, XRPUSDT | +0.28% |

## Which coins got swept

Forced-closure notional per symbol, summed across the day's bursts. A coin high on this list had the most leverage sitting where price went.

| Symbol | Force-closed (USD) | Share of the day (%) |
| --- | ---: | ---: |
| BTCUSDT | $64.60M | 44.2 |
| ETHUSDT | $40.19M | 27.5 |
| XRPUSDT | $6.46M | 4.4 |
| SOLUSDT | $4.18M | 2.9 |
| ZECUSDT | $2.79M | 1.9 |
| SNDKUSDT | $1.59M | 1.1 |
| XAUUSDT | $1.11M | 0.8 |

## What price did

BTCUSDT minute closes around the day's largest burst, one hour either side. Every 5th minute below.

| Minute (UTC) | BTCUSDT close (USD) |
| --- | ---: |
| 2026-08-25 20:00 | 78878.9 |
| 2026-08-25 20:05 | 78781.9 |
| 2026-08-25 20:10 | 78801.3 |
| 2026-08-25 20:15 | 78850 |
| 2026-08-25 20:20 | 78883.3 |
| 2026-08-25 20:25 | 78816.8 |
| 2026-08-25 20:30 | 78707.2 |
| 2026-08-25 20:35 | 78749.9 |
| 2026-08-25 20:40 | 78515.4 |
| 2026-08-25 20:45 | 78490 |
| 2026-08-25 20:50 | 78382.9 |
| 2026-08-25 20:55 | 78213.9 |
| 2026-08-25 21:00 | 78198.7 |
| 2026-08-25 21:05 | 78243.6 |
| 2026-08-25 21:10 | 78079.3 |
| 2026-08-25 21:15 | 78199.9 |
| 2026-08-25 21:20 | 78286.3 |
| 2026-08-25 21:25 | 78370 |
| 2026-08-25 21:30 | 78444.6 |
| 2026-08-25 21:35 | 78507.5 |
| 2026-08-25 21:40 | 78612.8 |
| 2026-08-25 21:45 | 78566.4 |
| 2026-08-25 21:50 | 78560.9 |
| 2026-08-25 21:55 | 78549 |
| 2026-08-25 22:00 | 78639.5 |
| 2026-08-25 22:05 | 78697 |
| 2026-08-25 22:10 | 78794.5 |
| 2026-08-25 22:15 | 78915.5 |
| 2026-08-25 22:20 | 78818.8 |
| 2026-08-25 22:25 | 78788.7 |
| 2026-08-25 22:30 | 78617 |

## How a day gets a page

Our detector reads the real liquidation tape in 30 minute buckets and flags a bucket when its total forced closures exceed the larger of 30 million USD and six times the trailing median bucket, so the bar moves with market conditions. A day gets a page only when at least one bucket cleared that bar. Quiet days have no page, which is why this archive is short and will stay honest as it grows.

## Other cascade days

- Previous cascade: /md/incidents/2026-08-24
- Next cascade: /md/incidents/2026-08-27

## Related

- https://bykaranteli.com/incidents
- https://bykaranteli.com/liquidations
- https://bykaranteli.com/liqmap

Everything in one fetch: https://bykaranteli.com/llms-full.txt