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keel
Ledger
65,275,515
Methodology
1.0.8-draft
Age
2s

BTC against USDC — what depth stands behind this price?

All assets

BTC / USDC

GDPJ…2MZM

Risk band

High

partial confidence

A floor: the real band can only be worse.

Max safe collateral
1,644.04 USDC (shortened; full value 1644.042123052018564904057874593336051714267716659344 USDC)Limited by liquidation depth
Depth within 5%
buy1,081.28 USDC (shortened; full value 1081.2868444525240065106203911062 USDC)sell1,703.96 USDC (shortened; full value 1703.960453002839814532865570592225824842446085456448 USDC)
Cost to move +50%
14,881.33 USDC (shortened; full value 14881.3367772738048956021879 USDC)Reachable through the order book
Checks
3 triggered3 not evaluated

History

Window
Resolution
Source

Cost to move the price 50%

The stored series carries one manipulation rung, the +50% move. A reading the engine could not produce breaks the line rather than sitting at zero.

Lower at the end of the window than at its start

Lowest
14,834.09 USDC (shortened; full value 14834.09652068121230300958662 USDC)
Highest
17,332.28 USDC (shortened; full value 17332.28025808344394450627966 USDC)
2026-11-01T23:53:29Z — 2026-11-02T23:38:34Z
Cost to move +50%
14,834.09 USDC (shortened; full value 14834.09652068121230300958662 USDC)
25 readings from horizon, with no gaps reported. One source per chart.

Checks

What fires now, how long it has been firing across the window above, and what could not run.
One holder owns most of itnowHOLDER_CONCENTRATION_EXTREMEthroughout
Thin depth at 5%nowTHIN_DEPTH_5PCTthroughout
Supply is concentratednowHOLDER_CONCENTRATION_HIGHthroughout
Nothing tradable within 2%ZERO_DEPTH_2PCT1 of 25

Not evaluated3

  • No genuine trade in 30 days
  • No genuine trade in 7 days
  • Volume may be wash traded

Evidence

The figures behind the verdict, as the engine served them.

The ceiling is the lower of two independent limits. Which one binds is the part a lender acts on, so both are shown.

1,644.04 USDC (shortened; full value 1644.042123052018564904057874593336051714267716659344 USDC)

Limited by liquidation depth

Liquidation termbinds
1,644.04 USDC (shortened; full value 1644.042123052018564904057874593336051714267716659344 USDC)

Sell-side depth at the liquidation delta, times the haircut.

Manipulation term
3,720.33 USDC (shortened; full value 3720.334194318451223900546975 USDC)

Order-book-only manipulation cost at the critical delta, times the safety margin.