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keel
Ledger
64,751,585
Methodology
1.0.8-draft
Age
9s

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
1,369.45 USDC (shortened; full value 1369.456147519577307529920841225972515274626692873363 USDC)Limited by liquidation depth
Depth within 5%
buy1,605.52 USDC (shortened; full value 1605.520086116250732677604599824 USDC)sell1,546.25 USDC (shortened; full value 1546.252329885174589115811841753532408485230122178682 USDC)
Cost to move +50%
25,056.33 USDC (shortened; full value 25056.33363850913124914186317 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.

Higher at the end of the window than at its start

Lowest
12,736.71 USDC (shortened; full value 12736.71866358802649297668604 USDC)
Highest
26,986.92 USDC (shortened; full value 26986.92636678430232822908672 USDC)
2026-09-11T17:47:56Z — 2026-10-02T10:38:32Z
Cost to move +50%
24,881.06 USDC (shortened; full value 24881.0664523909767615586395 USDC)
498 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.
Thin depth at 5%nowTHIN_DEPTH_5PCTthroughout
One holder owns most of itnowHOLDER_CONCENTRATION_EXTREME146 of 498
Supply is concentratednowHOLDER_CONCENTRATION_HIGH146 of 498
Nothing tradable within 2%ZERO_DEPTH_2PCT40 of 498

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.

1,369.45 USDC (shortened; full value 1369.456147519577307529920841225972515274626692873363 USDC)

Limited by liquidation depth

Liquidation termbinds
1,369.45 USDC (shortened; full value 1369.456147519577307529920841225972515274626692873363 USDC)

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

Manipulation term
6,264.08 USDC (shortened; full value 6264.0834096272828122854657925 USDC)

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