EU/US Crossover: Peak liquidity during 08:00-16:00 UTC saw ETH buy pressure 93% ($318.8M) and total buy pressure $327.3M vs $80.5M sell, with notable ARB activity including RPL at 11.82% and ORCA spreads above 6%. Risk: cross-exchange fragmentation can trigger sudden reversals or spread closures during this window. Position sizing: cap exposure at <5% of portfolio and place a stop of around -6% from entry or set tight spread alerts. Sign-off in brief: EU/US Crossover — February 17, 2026.