ZHIPUUSDT fell as much as 18.7% and finished 17.0% 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. ZHIPUUSDT fell as much as 18.7% and finished 17.0% below its starting price. The event lasted 4h 31m.
2. Forced selling tripping liquidation levels in sequence: a cascade, not one seller.
3. $367K liquidated, largest single fill $71K.
4. First forced-sell at 01:30 UTC, longs liquidated.