ETH slide below $1,870 may set off $1.159B in long liquidations across major CEXs

Derivatives positioning shows ETH is near key liquidation thresholds on major centralized exchanges. A move below $1,870 could force up to $1.159B of long liquidations, amplifying downside volatility via cascades, while a break above $2,053 could trigger roughly $614M in short liquidations, accelerating upside moves. The skew suggests greater fragility on the long side, raising near-term volatility risk around these levels.