# Liquidation cascade on 2026-11-05

On 2026-11-05 our detector flagged $626.75M of forced closures across 2 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/2026-11-05 · attribute to ByKaranteli and quote the timestamp.
Snapshot taken 2026-11-05T16:00:00.000Z.

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

| Measure | Value |
| --- | ---: |
| Force-closed (USD) | $626.75M |
| Longs (share of total, USD) | 95%, $592.78M |
| Shorts (share of total, USD) | 5%, $33.98M |
| Bursts (30 minute windows over threshold) | 2 |

## Every burst on this day

| Window (UTC) | Total (USD) | Longs (USD) | Shorts (USD) | Coins swept | BTC move (%) |
| --- | ---: | ---: | ---: | --- | ---: |
| 12:30 to 13:00 | $31.99M | $30.98M | $1.02M | ETHUSDT, BTCUSDT, SOLUSDT | -0.50% |
| 14:30 to 16:00 | $594.76M | $561.80M | $32.96M | BTCUSDT, ETHUSDT, SNDKUSDT | -4.40% |

## 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 | $169.71M | 27.1 |
| ETHUSDT | $122.60M | 19.6 |
| SNDKUSDT | $36.30M | 5.8 |
| SOXLUSDT | $33.64M | 5.4 |
| SOLUSDT | $24.24M | 3.9 |

## 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) |
| --- | ---: |
| 2026-11-05 13:30 | 79577.5 |
| 2026-11-05 13:35 | 79678.5 |
| 2026-11-05 13:40 | 79738 |
| 2026-11-05 13:45 | 79811.4 |
| 2026-11-05 13:50 | 79811.5 |
| 2026-11-05 13:55 | 79752.9 |
| 2026-11-05 14:00 | 79618 |
| 2026-11-05 14:05 | 79607 |
| 2026-11-05 14:10 | 79598.6 |
| 2026-11-05 14:15 | 79400.7 |
| 2026-11-05 14:20 | 79317.9 |
| 2026-11-05 14:25 | 79386.8 |
| 2026-11-05 14:30 | 79542.1 |
| 2026-11-05 14:35 | 79397 |
| 2026-11-05 14:40 | 78896.4 |
| 2026-11-05 14:45 | 78840.1 |
| 2026-11-05 14:50 | 78723.4 |
| 2026-11-05 14:55 | 78414 |
| 2026-11-05 15:00 | 78072.3 |
| 2026-11-05 15:05 | 77599.9 |
| 2026-11-05 15:10 | 77142.7 |
| 2026-11-05 15:15 | 77230.2 |
| 2026-11-05 15:20 | 77190.7 |
| 2026-11-05 15:25 | 76455 |
| 2026-11-05 15:30 | 76510.3 |
| 2026-11-05 15:35 | 76649.4 |
| 2026-11-05 15:40 | 76462.5 |
| 2026-11-05 15:45 | 76169.3 |
| 2026-11-05 15:50 | 75956.9 |
| 2026-11-05 15:55 | 75881.5 |
| 2026-11-05 16:00 | 75958.7 |
| 2026-11-05 16:05 | 75708 |
| 2026-11-05 16:10 | 75941.7 |
| 2026-11-05 16:15 | 76198 |
| 2026-11-05 16:20 | 76758.8 |
| 2026-11-05 16:25 | 76729 |
| 2026-11-05 16:30 | 76747.1 |
| 2026-11-05 16:35 | 76840.1 |
| 2026-11-05 16:40 | 76610.4 |
| 2026-11-05 16:45 | 76454.2 |
| 2026-11-05 16:50 | 76582.8 |
| 2026-11-05 16:55 | 76478.6 |
| 2026-11-05 17:00 | 76306.1 |

## 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/2026-11-04

## Related

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

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