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MUSDT liquidation cascade on June 24, 2026

MUSDT fell as much as 84.6% and finished 71.7% below its recorded baseline.

Investigate MUSDT →Research the setup at 22:36 UTC →🔒 Replay with Pro →

Free replays cover the last 7 days and selected events.

Peak move
-84.6%
Net move
-71.7%
Reported liquidations
$2.2M
Largest liquidation
$489K
Duration
6h
Volume
$83.2M
Liquidation cascadeBinance
06-24 21:06 to 06-25 06:06 UTC, including time outside the archive window · 5m candlesLow $0.4057 · high $2.7151
Key moments Modelled liquidation zones as of 05:55 UTC. Candle-based estimates, not observed liquidation orders.

Key moments

Times in UTC. Select one to replay from that minute.
First reported liquidationlongs liquidated · $2KCapitulation wick20.6%Flash move-75.4%Volume climax$5.0MVPIN spike0.73Liquidation burstlongs liquidated · $1.5M
3 more momentsLargest liquidationlongs liquidated · $489KFunding flipped negative-0.090%Low$0.4057

Research markers

Why the liquidation cascade label?

These observations support the label. They do not show what caused the move or who started it.

Label confidence 0.85 of 1longs liquidated 85%liquidations $2.2M

How these numbers are measured

Peak and net moves start from the recorded baseline, which can differ from the replay's first price.

Liquidations are reported venue snapshots; orders a venue left out are not rebuilt.

Exact definitions
  • Replay window: 2026-06-24T22:36:05.884Z to 2026-06-25T04:36:15.214Z.
  • Recorded baseline: $2.6397. High: $2.7067. End: $0.7477.
  • The liquidation cascade label describes the detected event class, so a later reversal changes the net move without silently changing the classification.
  • Price-extreme and wick times mark the source candle, not the exact tick.
Data provenance and methodology →
What the replay includes
Recorded streams
Order book (L2)560KTrades / tape763KLiquidations534Liquidation heatmapVPIN / toxicityOI & positioning
What you will see
  1. MUSDT fell as much as 84.6% and finished 71.7% below its recorded baseline. The event lasted 6h.
  2. Forced selling tripping liquidation levels in sequence: a cascade, not one seller.
  3. $2.2M liquidated, largest reported liquidation $489K.
  4. First reported liquidation in this archive at 00:02 UTC, longs liquidated.
  5. $1.5M force-liquidated in about a minute from 00:35 UTC.
  6. Capitulation wick of 20.6% at 00:35 UTC.
  7. Funding flipped negative at 00:37 UTC (-0.090%).