BTR Plunges 80% in 24 Hours: Over 41% of Circulating Supply Moves to Bithumb, Market Questions Possible Centralized Dumping Pressure and Price Manipulation

BlockBeats News, March 24th. According to EmberCN monitoring, the Bitlayer token BTR has experienced a cliff-like drop since yesterday afternoon, with the price quickly plummeting from around $0.2 to $0.04, a staggering 80% decline.

Of note, the Korean exchange Bithumb has become the core venue of this round of sell-off. Data shows that in the past approximately 24 hours, around 140 million BTR tokens (about 41% of the circulating supply) have flowed into this platform in a concentrated manner, highly coinciding with the price plunge.

Market analysis believes that such a large-scale, short-term concentrated inflow typically indicates strong one-sided selling pressure, and it does not rule out the possibility of large holders or related parties concentrating on selling off. In an environment with relatively limited liquidity in trading pairs, this type of behavior can easily amplify price fluctuations and create a "trampling effect" on the market.