MUSDT fell as much as 24.6% and finished 15.8% below its starting price.

Peak move is the largest signed price excursion from the event's starting price. Net move is the start-to-finish change. The volatility spike label describes the detected event class, so a later reversal changes the net move without silently changing the classification.

1. MUSDT fell as much as 24.6% and finished 15.8% below its starting price. The event lasted 28h 1m.
2. $410K liquidated, largest single fill $11K.
3. First forced-sell at 01:06 UTC, longs liquidated.
4. Capitulation wick of 4.6% at 03:00 UTC.
5. Open interest peaked at $5.4M (06:24 UTC) before the unwind.
6. Funding flipped negative at 01:39 UTC (-0.006%).
7. Clawed back half of the move by 05:00 UTC.
8. No cause was auto-detected for this move; replay the order book and tape to read it yourself.