ETH liquidation data flags $1,925 as a level tied to $623M CEX long risk

Liquidation data suggests ETH slipping below $1,925 could put as much as $623 million of cumulative long positions on major centralized exchanges at risk of forced closure. The figure is conditional rather than guaranteed, and would only be realized if price breaks the level and stays there long enough for liquidation engines to act. The setup highlights a potential volatility cluster for leveraged traders around that threshold.