$ETHThe derivatives market has a liquidation wall of $2,057 to $1,863, meaning a single sudden move could trigger forced sales of about $1.4 billion.
summary
- According to Coinglass data relayed by ChainCatcher, shorts face up to $928 million in liquidations above $2,057, while longs risk $454 million below $1,863 on major CEXs.
- $ETH Prices on February 11th were trading around $1,936 to $1,970, with both liquidation bands within a single high-volatility session.
- $BTC It has been hovering around $67,000, $ETH nearly $1,950; $SOL Around $80 as the cryptocurrency trades as a leveraged proxy for macro risk sentiment.
The Ethereum derivatives market is tightly intertwined. According to liquidation heatmap data compiled by Coinglass and relayed by ChainCatcher, “If $ETH Once it breaks above $2,057, the cumulative short liquidation strength of mainstream CEX will reach $928 million. ” On the downside, the same dataset shows that: $ETH Below $1,863, the cumulative long-term liquidation intensity on the mainstream CEX will reach $454 million. ”, highlighting how one impulsive move can lead to a chain of forced buyers or forced sellers.
Liquidation band and positioning
These two bands ($2,057 on the top and $1,863 on the bottom) define the current battleground for leverage. Coinglass’ liquidation hiatus map suggests a market where shorts are clustered around the $2,000 zone while longs are clustered just below the current value, with both sides exposed to relatively mild volatility shocks. In layman’s terms, a big break above $2,057 would not only put pressure on the bears who were lagging behind, but mechanically it could add up to $928 million in forced investment. $ETH While there is buying across major centralized exchanges, a flush below $1,863 risks triggering long-side liquidations of approximately $454 million.
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Structurally, that asymmetry fosters pain on the upside. In other words, the liquidation pool on the short side is more than twice that of the long side. This means that if prices rise through resistance, dealers and market makers will need to hedge more aggressively. at the same time, $ETH itself is trading weakly. According to Bybit data, the spot on February 11th was around $1,936 to $1,970, with a 24-hour range of roughly $1,935 to just over $2,040, with both trigger zones still within a single high-volatility session.
macro tape and tape measure
This setup is deployed for broader risk-off drift in the measure. Bitcoin is trading around $67,250, down about 2.5% from about $68,980 24 hours ago. Futures data shows an intraday band on February 11th near $66,700 to $69,400. Ethereum is trading at just under $2,000, down about 3-4% on the day in dollar terms, with recent highs around $2,040 and lows just below that. $1,940. Meanwhile, Solana is trading around $80-$81, down about 4% during the session, with a 24-hour corridor of roughly $80.5-$84.9 and a market cap of nearly $45-46 billion.
This parabolic move comes as digital assets continue to trade as the purest expression of macro risk appetite. Bitcoin ($BTC) is a multi-billion dollar futures and spot trade, with 24-hour highs near $69,400 and lows near $66,700, hovering around $67,000. Ethereum ($ETH) is trading near $1,950, with 24-hour volume of approximately $19 billion, and spot prices hovering between the mid-$1,900s and low $2,000s on major exchanges. Solana ($SOL) is trading at about $80, down about 4% in the past 24 hours, with more than $3.6 billion traded between venues.
From a market structure perspective, the message is straightforward. $ETH We don’t need a new story. Just push. A decisive move through either liquidation wall will likely be amplified by leverage and turn today’s narrow range into tomorrow’s headline-worthy breakout or breakdown.
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