Trend Research faces liquidation risk at the $1880 level, with a comprehensive view of institutional holdings risk emerging

According to Foresight News, the current holdings of institutional investors in the cryptocurrency market have attracted widespread attention, especially as the cost basis and current prices for several well-known institutions are gradually narrowing. Among them, Trend Research’s Ethereum position, with a liquidation price near $1,880, is facing a severe test. Under current market volatility, the unrealized losses of these institutions have become a focal point for market observation.

Comparison of Major Institutions’ Holdings: Wide Gap in Cost Bases

Based on data from Yuchen Monitoring, MicroStrategy has accumulated 712,600 BTC, with an average cost basis of $76,037. The current price is approximately $68,840, approaching its cost basis. If BTC price drops another roughly $3,000, this institution will officially be in a trapped position, reflecting the fragility of mainstream assets in the current market.

In contrast, Tom Lee’s Bitmine holds a more precarious Ethereum position. The institution owns 4.243 million ETH, with an average cost basis of $3,849. The current ETH price is only about $2,000, resulting in an unrealized loss of $5.92 billion, with a loss exceeding 36%. This highlights the risks of high-position entries at elevated prices.

Leverage Risk Escalation: Trend Research at $1,880 at the Brink

The most attention-grabbing is Yilihua’s Trend Research, which holds 651,500 ETH with an average cost basis of approximately $3,180. The unrealized loss is about $475 million, but more dangerously, the institution employs a leveraged borrowing strategy. According to monitoring data, its liquidation price is set near $1,880, about $120 away from the current price, with imminent liquidation risk.

This means that if ETH price continues to decline toward $1,880, the institution’s leveraged position will face forced liquidation. This leverage risk differs from MicroStrategy and Bitmine’s spot holdings; once triggered, it could trigger a chain reaction.

Market Reflection: Institutional Risk Warning

These data reflect the common challenges faced by institutional investors in the current market—combining high-position cost pressures with leveraged amplification risks. Especially with Trend Research’s liquidation price at $1,880, it has become a key risk point for market attention, as any price fluctuation could trigger institutional-level risk events.