BlockBeats News, October 4th: In the past 24 hours, MYX experienced a counter-trend plummet of 26.15%, deviating significantly from the overall crypto market cap’s 1.4% rise. The price has dropped below the key support level of $8.9, with short-term momentum biased to the downside. The liquidation heatmap shows a high-density order book and liquidation zone in the $7–9 price range. The breakdown has triggered a large number of stop-losses and liquidations, indicating a potential continuation of a downward oscillation in the short term.
On the funding side, BTC dominance has risen to 58.21%, with approximately $627 million and $307 million flowing into BTC and ETH, respectively. There is a noticeable outflow of altcoin funds, with a 24-hour trading volume dropping to around $229 million, signaling a shift in market risk appetite towards conservatism. The historical record of MYX token unlocks and coordinated whale offloading on-chain has further exacerbated investor concerns.
Bitunix analyst recommendation: In the short term, prioritize risk management, consider reducing leverage, and focus on the $4 key observation level. If that level is reached, watch for a rebound signal supported by observable volume. Also, keep an eye on BTC’s trend; if it continues to rise, the pressure from altcoin fund outflows is likely to intensify.
