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keel
Ledger
65,276,414
Methodology
1.0.8-draft
Age
6s

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
1,397.08 USDC (shortened; full value 1397.086632910613318973484985206608482199651277920385 USDC)Limited by liquidation depth
Depth within 5%
buy1,582.84 USDC (shortened; full value 1582.8475982997610663999244064195 USDC)sell1,207.38 USDC (shortened; full value 1207.389066239148699949821902748990281171238897007222 USDC)
Cost to move +50%
15,278.15 USDC (shortened; full value 15278.15948608255442594998686 USDC)Reachable through the order book
Checks
3 triggered3 not evaluated

Every stored reading from this source, whenever it was taken

A reconstruction is written where a replay ran rather than on the scan's cadence, so there is no window to choose: the engine returns the readings it holds and the axis below is labelled from them.

No readings were stored in this range from this source

The engine holds no stored reading for Trades implied on this asset. A reconstruction exists only where keel replay has been run, and it has been run on one pair.

Checks

What fires now, how long it has been firing across the window above, and what could not run.

Triggered3

  • One holder owns most of it
  • Thin depth at 5%
  • Supply is concentrated

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.

1,397.08 USDC (shortened; full value 1397.086632910613318973484985206608482199651277920385 USDC)

Limited by liquidation depth

Liquidation termbinds
1,397.08 USDC (shortened; full value 1397.086632910613318973484985206608482199651277920385 USDC)

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

Manipulation term
3,819.53 USDC (shortened; full value 3819.539871520638606487496715 USDC)

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