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keel
Ledger
65,274,974
Methodology
1.0.8-draft
Age
8s

BTCLN against USDC — what depth stands behind this price?

All assets

BTCLN / USDC

GDPK…VBVT

Risk band

High

partial confidence

A floor: the real band can only be worse.

Max safe collateral
9.92 USDC (shortened; full value 9.92002691885496247053149844896208523018979560934 USDC)Limited by liquidation depth
Depth within 5%
buy9.60 USDC (shortened; full value 9.6051503640005808681184059857 USDC)sell9.78 USDC (shortened; full value 9.78943241898889434171896110436557683611942161577 USDC)
Cost to move +50%
21,000.07 USDC (shortened; full value 21000.07406870005819486444238 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
3.94 USDC (shortened; full value 3.9433442607360990775211651961 USDC)
Highest
360.68 USDC (shortened; full value 360.6856276167955758368934652338 USDC)
2026-10-03T23:53:32Z — 2026-10-24T18:53:28ZOne scale across every line on this chart
2% from mid
3.96 USDC (shortened; full value 3.9616856425629819759656515821 USDC)
5% from mid
9.83 USDC (shortened; full value 9.8320866010865665017900642336 USDC)
10% from mid
19.43 USDC (shortened; full value 19.4327318054500380676222408264 USDC)
500 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.
Price sources disagreenowPRICE_SOURCE_CONFLICTthroughout
Thin depth at 5%nowTHIN_DEPTH_5PCTthroughout
Supply is concentratednowHOLDER_CONCENTRATION_HIGHthroughout
Extreme spreadSPREAD_EXTREMEthroughout

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.

9.92 USDC (shortened; full value 9.92002691885496247053149844896208523018979560934 USDC)

Limited by liquidation depth

Liquidation termbinds
9.92 USDC (shortened; full value 9.92002691885496247053149844896208523018979560934 USDC)

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

Manipulation term
5,250.01 USDC (shortened; full value 5250.018517175014548716110595 USDC)

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