Bitunix Analyst: MYX Plummets 26.15% in 24 Hours, Technical Breakdown and Unlocking Concerns Increase Selling Pressure

According to reports, MYX has plummeted by 26.15% in the past 24 hours, deviating significantly from the overall crypto market cap increase of 1.4%. The price has fallen below the key support level of $8.9, with short-term momentum leaning bearish; the liquidation heat map shows a high density of orders and liquidation zones in the $7-9 range, triggering a large number of stop-losses and liquidations, with a potential for continued downward volatility in the short term. On the funding side, BTC dominance has risen to 58.21%, with approximately $627 million and $307 million in funds flowing into BTC and ETH respectively, while outflows from altcoins are evident, with a 24-hour trading volume dropping to around $2.29 billion, indicating a shift in market risk preference towards conservatism. The unlocking of MYX tokens and the historical record of coordinated selling by whales on-chain further amplify investor concerns. Bitunix analysts recommend prioritizing risk management in the short term, suggesting reducing leverage and observing the $4 key level; if reached, holding onto observable volume-coordinated rebound signals. Also, keep an eye on BTC trends, as continued upward movement may further intensify the pressure of altcoin outflows.

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