Bitunix Analyst: MYX Sees 26.15% Plunge in 24 Hours, Technical Breakdown and Unlocking Concerns Amplify Selling Pressure

October 4th: During the past 24 hours, MYX witnessed a counter-trend plummet of 26.15%, showing a significant deviation from the overall crypto market cap's 1.4% increase. The price has fallen below the crucial support level of $8.9, and the short-term momentum is biased towards the downside. The liquidation heatmap indicates a high-density order book and liquidation zone within the $7 - $9 price range. The breakdown has triggered a large number of stop-losses and liquidations, suggesting the potential for a continuous downward oscillation in the short term. On the funding front, BTC dominance has increased to 58.21%, with approximately $627 million and $307 million flowing into BTC and ETH respectively. There is a notable outflow of altcoin funds, and the 24-hour trading volume has dropped to around $229 million, indicating a shift in market risk appetite towards a more conservative stance. The historical record of MYX token unlocks and coordinated whale offloading on-chain has further heightened investor concerns. Bitunix analyst's recommendation: In the short term, give priority to risk management, consider reducing leverage, and focus on the $4 key observation level. If this level is reached, pay attention to the rebound signal supported by observable volume. Also, keep a close eye on the trend of BTC; if it continues to rise, the pressure from the outflows of altcoin funds is likely to intensify.