OPNUSDT fell as much as 66.7% and finished 63.8% 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 liquidation cascade label describes the detected event class, so a later reversal changes the net move without silently changing the classification.

1. OPNUSDT fell as much as 66.7% and finished 63.8% below its starting price. The event lasted 12h.
2. Forced selling tripping liquidation levels in sequence: a cascade, not one seller.
3. $332K liquidated, largest single fill $40K.
4. First forced-sell at 15:56 UTC, longs liquidated.
5. $198K force-liquidated in about a minute from 22:01 UTC.
6. Capitulation wick of 14.9% at 22:00 UTC.
7. Open interest peaked at $10.4M (18:34 UTC) before the unwind.
8. Funding flipped negative at 22:32 UTC (-0.005%).
9. Clawed back half of the move by 22:05 UTC.