# Liquidation cascade on 2026-09-03

On 2026-09-03 our detector flagged $443.44M of forced closures across 4 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/2026-09-03 · attribute to ByKaranteli and quote the timestamp.
Snapshot taken 2026-09-03T22:00:00.000Z.

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

| Measure | Value |
| --- | ---: |
| Force-closed (USD) | $443.44M |
| Longs (share of total, USD) | 5%, $20.08M |
| Shorts (share of total, USD) | 95%, $423.36M |
| Bursts (30 minute windows over threshold) | 4 |

## Every burst on this day

| Window (UTC) | Total (USD) | Longs (USD) | Shorts (USD) | Coins swept | BTC move (%) |
| --- | ---: | ---: | ---: | --- | ---: |
| 14:00 to 16:00 | $197.90M | $8.77M | $189.13M | BTCUSDT, ETHUSDT, ZECUSDT | +3.03% |
| 14:30 to 16:00 | $167.16M | $7.78M | $159.38M | BTCUSDT, ETHUSDT, ZECUSDT | +1.96% |
| 15:30 to 16:00 | $39.03M | $1.65M | $37.38M | BTCUSDT, ETHUSDT, ZECUSDT | +0.59% |
| 21:30 to 22:00 | $39.35M | $1.89M | $37.46M | BTCUSDT, ETHUSDT, ZECUSDT | -0.39% |

## 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 | $211.75M | 47.8 |
| ETHUSDT | $119.83M | 27.0 |
| ZECUSDT | $26.77M | 6.0 |
| SOLUSDT | $13.19M | 3.0 |
| XRPUSDT | $10.76M | 2.4 |
| DOGEUSDT | $818.0K | 0.2 |
| 1000PEPEUSDT | $651.3K | 0.1 |
| BNBUSDT | $348.7K | 0.1 |

## 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) |
| --- | ---: |
| 2026-09-03 13:00 | 78564.8 |
| 2026-09-03 13:05 | 78559.5 |
| 2026-09-03 13:10 | 78496.1 |
| 2026-09-03 13:15 | 78511.3 |
| 2026-09-03 13:20 | 78460 |
| 2026-09-03 13:25 | 78525.8 |
| 2026-09-03 13:30 | 78470 |
| 2026-09-03 13:35 | 78583.1 |
| 2026-09-03 13:40 | 78776.3 |
| 2026-09-03 13:45 | 78891.5 |
| 2026-09-03 13:50 | 78925 |
| 2026-09-03 13:55 | 78727.1 |
| 2026-09-03 14:00 | 78670.1 |
| 2026-09-03 14:05 | 78850.2 |
| 2026-09-03 14:10 | 78803.4 |
| 2026-09-03 14:15 | 78950.1 |
| 2026-09-03 14:20 | 79051.5 |
| 2026-09-03 14:25 | 79422.2 |
| 2026-09-03 14:30 | 79714.4 |
| 2026-09-03 14:35 | 79757.1 |
| 2026-09-03 14:40 | 79584.3 |
| 2026-09-03 14:45 | 79838.8 |
| 2026-09-03 14:50 | 80299.9 |
| 2026-09-03 14:55 | 80235.4 |
| 2026-09-03 15:00 | 80520.2 |
| 2026-09-03 15:05 | 80816.2 |
| 2026-09-03 15:10 | 80520.4 |
| 2026-09-03 15:15 | 80480.2 |
| 2026-09-03 15:20 | 80581.7 |
| 2026-09-03 15:25 | 80620.1 |
| 2026-09-03 15:30 | 80746.8 |
| 2026-09-03 15:35 | 80848.2 |
| 2026-09-03 15:40 | 80931.4 |
| 2026-09-03 15:45 | 80838.6 |
| 2026-09-03 15:50 | 80864.3 |
| 2026-09-03 15:55 | 81151.9 |
| 2026-09-03 16:00 | 81242 |
| 2026-09-03 16:05 | 80852.4 |
| 2026-09-03 16:10 | 81003 |
| 2026-09-03 16:15 | 80840.4 |
| 2026-09-03 16:20 | 80809.6 |
| 2026-09-03 16:25 | 80627.5 |
| 2026-09-03 16:30 | 80826.8 |
| 2026-09-03 16:35 | 80853.6 |
| 2026-09-03 16:40 | 80832.6 |
| 2026-09-03 16:45 | 80815.9 |
| 2026-09-03 16:50 | 80959.9 |
| 2026-09-03 16:55 | 80927.1 |
| 2026-09-03 17:00 | 80886.3 |

## 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/2026-09-02
- Next cascade: /md/incidents/2026-09-04

## Related

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

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