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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

Buy-side depth

What an order can absorb before the price moves against a buyer. The rungs are nested, so one scale covers all three.

Lower at the end of the window than at its start

Lowest
449.44 USDC (shortened; full value 449.4422810652749823385429397404 USDC)
Highest
2,412.67 USDC (shortened; full value 2412.6755976970043331602138493207 USDC)
2026-11-01T23:53:29Z — 2026-11-02T23:38:34ZOne scale across every line on this chart
2% from mid
449.44 USDC (shortened; full value 449.4422810652749823385429397404 USDC)
5% from mid
1,094.89 USDC (shortened; full value 1094.8926020313637863152010053704 USDC)
10% from mid
2,150.48 USDC (shortened; full value 2150.4831098041810831823773006547 USDC)
2 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

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.