[Bug] Anthropic API Error: Rate limit reached despite available quota

Bug Description
I have lost complete faith in Claude Code. I am seriously considering canceling my sub!!!

 API Error: Rate limit reached
with plenty of ceiling left

Environment Info

• Platform: darwin
• Terminal: ghostty
• Version: 2.1.76
• Feedback ID: 27618ea7-d4ad-4d95-899c-ca8e22e0d2ed

Errors

[{"error":"Error: 429 {\"type\":\"error\",\"error\":{\"type\":\"rate_limit_error\",\"message\":\"Extra usage is required for long context requests.\"},\"request_id\":\"req_011CZ323ZjUdVuFSo5tpENcR\"}\n    at a7.generate (file:///Users/jaredlikes/.nvm/versions/node/v23.11.0/lib/node_modules/@anthropic-ai/claude-code/cli.js:521:9216)\n    at kC.makeStatusError (file:///Users/jaredlikes/.nvm/versions/node/v23.11.0/lib/node_modules/@anthropic-ai/claude-code/cli.js:560:2195)\n    at kC.makeRequest (file:///Users/jaredlikes/.nvm/versions/node/v23.11.0/lib/node_modules/@anthropic-ai/claude-code/cli.js:560:5420)\n    at process.processTicksAndRejections (node:internal/process/task_queues:105:5)","timestamp":"2026-03-14T13:03:32.573Z"},{"error":"Error: 429 {\"type\":\"error\",\"error\":{\"type\":\"rate_limit_error\",\"message\":\"Extra usage is required for long context requests.\"},\"request_id\":\"req_011CZ32ebC1YjBzVDFcr3YvW\"}\n    at a7.generate (file:///Users/jaredlikes/.nvm/versions/node/v23.11.0/lib/node_modules/@anthropic-ai/claude-code/cli.js:521:9216)\n    at kC.makeStatusError (file:///Users/jaredlikes/.nvm/versions/node/v23.11.0/lib/node_modules/@anthropic-ai/claude-code/cli.js:560:2195)\n    at kC.makeRequest (file:///Users/jaredlikes/.nvm/versions/node/v23.11.0/lib/node_modules/@anthropic-ai/claude-code/cli.js:560:5420)\n    at process.processTicksAndRejections (node:internal/process/task_queues:105:5)","timestamp":"2026-03-14T13:11:27.636Z"}]