UBUSDT rallied 26.3% intraperiod, then reversed to finish 22.3% 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. UBUSDT rallied 26.3% intraperiod, then reversed to finish 22.3% below its starting price. The event lasted 28h 2m.
2. $1.4M liquidated, largest single fill $28K.
3. First forced-sell at 01:16 UTC, shorts liquidated.
4. Capitulation wick of 5.8% at 12:15 UTC.
5. Open interest peaked at $14.9M (07:46 UTC) before the unwind.
6. Funding hit extreme (positive) at 01:19 UTC (+0.050%).
7. Gave back half of the move by 08:45 UTC.
8. No cause was auto-detected for this move; replay the order book and tape to read it yourself.