Charlie Quant Lab Research / Liquidation Map

Where borrowed crypto trades can break.

This page shows where open leveraged positions may be forced closed, which side carries more money, and whether one very large position is creating the headline.

ETH has the widest split: accounts lean toward a rise, while tracked wallet money leans toward a fall.

If ETH falls to $2,217, about $6.3mn of rise bets in this tracked group reach their forced-close zone.

Market view through 20 October 2026, 05:27 UTC
ETH forced-close map The current price sits between the nearest fall-bet closure zone above and rise-bet closure zone below. FALL BETS CAN BE FORCED CLOSED$3,029 · $17.6mn CURRENT PRICE$2,406 RISE BETS CAN BE FORCED CLOSED$2,217 · $6.3mn
Lead assetETH at $2,406The widest account-versus-wallet split.
Accounts betting on a rise75%A headcount. It is not a dollar measure.
Tracked wallet money betting on a rise6%100 wallets in this reading.
Open money in tracked positions$574.7mnOne venue. This is not the whole market.

What price starts the cascade?

Red bars are rise bets that may be closed as price falls. Green bars are fall bets that may be closed as price rises. The yellow line is the current price.

Money reaching forced-close pricesRed bars below the current price show rise bets at risk. Green bars above show fall bets at risk.NOW $2,406$1,350$1,878$2,406$2,934$3,462PRICEPEAK BAR $16.2mn
The first pressure zone sits 7.9% below now.

If ETH falls to $2,217, about $6.3mn of rise bets in this tracked group reach their forced-close zone. Reaching the price does not guarantee every position closes: owners can add money or reduce the trade.

One position holds 45% of tracked money.

After the largest position is removed, $-244.9mn still leans toward a fall. The headline survives.

No fair match

The nearest forced-close zone sits outside the range where the visible order book can be compared honestly.

Where the crowd and the money disagree.

Accounts and dollars answer different questions. A thousand small accounts can lean one way while a few large positions lean the other. The gap is a clue, not proof that one side is smarter.

ETH100 tracked wallets · $574.7mn open
W
75%accounts6%wallet money
DOGE24 tracked wallets · $17.4mn open
W
72%accounts7%wallet money
SOL61 tracked wallets · $130.6mn open
W
70%accounts16%wallet money
BTC100 tracked wallets · $573.2mn open
W
63%accounts11%wallet money
XRP36 tracked wallets · $40.7mn open
W
72%accounts21%wallet money
HYPE100 tracked wallets · $197.3mn open
W
62%accounts38%wallet money
AAVE21 tracked wallets · $15.9mn open
W
52%accounts76%wallet money
LINK28 tracked wallets · $18.0mn open
W
61%accounts48%wallet money

ETH is the widest split among the 8 assets with complete readings. The comparison uses one account-count venue and one wallet-position venue, so it measures disagreement between two groups rather than the whole market.

Did the account crowd move?

A crowded trade is more worrying when the crowd is still piling in. This line tracks the share of futures accounts betting on a rise over the last 48 hours.

Share of futures accounts betting on a riseA 48-hour line showing whether the account crowd became more or less tilted toward a rise.EVEN75% LONG
The account crowd moved 0.0 points more toward a rise over the last 48 hours.

This is a change in account share. It does not tell us how much money those accounts added or removed.

Four views of the same open book.

Each line is a separate wallet group. Bars move right when more money bets on a rise and left when more money bets on a fall. The groups may overlap, so do not add them together.

Tracked record100 wallets · $574.7mn open
$-500.8mntoward a fall
Known names29 wallets · $43.8mn open
$-26.7mntoward a fall
All venue positions200 wallets · $2.3bn open
$-88.4mntoward a fall

The positions that matter most.

These are the largest open positions in the lead group. “Borrowed exposure” says how many times the owner's money is being used. More borrowed exposure means less room to be wrong.

PositionBetMoney openBorrowed exposureEntryForced closeOpen result
#01 Fall $255.9mn 5.0 times $2,323 $4,128+71.6% away $-5.0mn
#02 Fall $170.3mn 5.0 times $2,375 $4,618+91.9% away $843.1k
#03 Fall $44.0mn 25.0 times $2,522 $3,558+47.9% away $4.4mn
#04 Fall $16.2mn 25.0 times $2,495 $3,147+30.8% away $770.2k
#05 Fall $10.1mn 20.0 times $1,896 $3,045+26.6% away $-2.0mn
#06 Fall $9.6mn 20.0 times $2,382 $4,853+101.7% away $-89.8k
#07 Fall $7.9mn 25.0 times $2,271 $3,384+40.6% away $-347.2k
#08 Rise $7.2mn 6.0 times $2,392 $1,911-20.6% away $-277.2k
#09 Fall $4.8mn 25.0 times $2,423 $2,654+10.3% away $234.0k
#10 Fall $4.5mn 25.0 times $2,648 $3,434+42.7% away $488.5k
#11 Rise $4.3mn 25.0 times $2,365 $2,319-3.6% away $69.6k
#12 Rise $3.9mn 10.0 times $2,469 $228-90.5% away $-141.4k

This is a pressure map. It is not a price forecast.

Open positions can change, traders can add money, and orders visible now may disappear before price reaches them. The wallet positions come from one venue and the account crowd from another. That makes this a focused stress reading, not a total for all crypto trading.

What to watch next

If ETH falls to $2,217, about $6.3mn of rise bets in this tracked group reach their forced-close zone. If the side stays crowded while price moves toward that band, the chance of forced trading rises. If the largest position leaves first, read the removal test again before trusting the old headline.

Research by for Charlie Quant Lab · Updated