# Liquidation cascade on 2026-09-04

On 2026-09-04 our detector flagged $144.30M of forced closures across 1 detected burst. Everything below is read from the real liquidation feed, not estimated: these are closures the exchanges actually broadcast.

Source: https://bykaranteli.com/incidents/2026-09-04 · attribute to ByKaranteli and quote the timestamp.
Snapshot taken 2026-09-04T13:00:00.000Z.

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

| Measure | Value |
| --- | ---: |
| Force-closed (USD) | $144.30M |
| Longs (share of total, USD) | 96%, $138.15M |
| Shorts (share of total, USD) | 4%, $6.15M |
| Bursts (30 minute windows over threshold) | 1 |

## Every burst on this day

| Window (UTC) | Total (USD) | Longs (USD) | Shorts (USD) | Coins swept | BTC move (%) |
| --- | ---: | ---: | ---: | --- | ---: |
| 12:30 to 13:00 | $144.30M | $138.15M | $6.15M | ETHUSDT, BTCUSDT, XRPUSDT | -2.21% |

## 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 (%) |
| --- | ---: | ---: |
| ETHUSDT | $56.56M | 39.2 |
| BTCUSDT | $46.88M | 32.5 |
| XRPUSDT | $9.54M | 6.6 |
| SOLUSDT | $3.66M | 2.5 |
| XAUUSDT | $3.17M | 2.2 |

## What price did

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

| Minute (UTC) | ETHUSDT close (USD) |
| --- | ---: |
| 2026-09-04 11:30 | 2522.38 |
| 2026-09-04 11:35 | 2522.91 |
| 2026-09-04 11:40 | 2524.28 |
| 2026-09-04 11:45 | 2523.56 |
| 2026-09-04 11:50 | 2524.98 |
| 2026-09-04 11:55 | 2524.29 |
| 2026-09-04 12:00 | 2522.89 |
| 2026-09-04 12:05 | 2522.21 |
| 2026-09-04 12:10 | 2521.07 |
| 2026-09-04 12:15 | 2521.55 |
| 2026-09-04 12:20 | 2519.86 |
| 2026-09-04 12:25 | 2522.32 |
| 2026-09-04 12:30 | 2472.61 |
| 2026-09-04 12:35 | 2453.96 |
| 2026-09-04 12:40 | 2462.05 |
| 2026-09-04 12:45 | 2444.39 |
| 2026-09-04 12:50 | 2451.12 |
| 2026-09-04 12:55 | 2453.13 |
| 2026-09-04 13:00 | 2445.69 |
| 2026-09-04 13:05 | 2448.35 |
| 2026-09-04 13:10 | 2445.53 |
| 2026-09-04 13:15 | 2444.79 |
| 2026-09-04 13:20 | 2450.99 |
| 2026-09-04 13:25 | 2452.83 |
| 2026-09-04 13:30 | 2452.78 |
| 2026-09-04 13:35 | 2437.58 |
| 2026-09-04 13:40 | 2445.93 |
| 2026-09-04 13:45 | 2451 |
| 2026-09-04 13:50 | 2455.42 |
| 2026-09-04 13:55 | 2451.23 |
| 2026-09-04 14:00 | 2453.08 |

## 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/2026-09-03
- Next cascade: /md/incidents/2026-09-08

## Related

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

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