BTR Plunges 80% as 41% of Supply Hits Bithumb, Signaling Heavy Spot Selling
Bitlayer’s token BTR has crashed about 80% since yesterday afternoon, dropping from around $0.2 to $0.04. On-chain analyst Yu Jin said Bithumb appears to be the main destination for BTR spot selling (or price suppression). Within one day, 41% of BTR’s circulating supply—about 140 million tokens—moved into Bithumb. The speed and scale of the BTR inflow suggest coordinated sell pressure that can intensify liquidity stress on the order book. Traders should watch for continued exchange inflows, spot volume spikes, and whether BTR can reclaim key support after the selloff stabilizes.
Bearish
The news is bearish because it links a sharp BTR price crash with unusually large, fast exchange inflows to Bithumb. When 41% of circulating BTR lands on an exchange within a day, it typically increases immediate sell-side supply, widening spreads and adding downside pressure. Similar “exchange inflow + rapid dump” patterns in past crypto episodes often lead to short-term continuation of weakness until inflows slow and buyers absorb the supply.
In the short term, traders may expect continued volatility, potential further dips, and risk of stop-outs if BTR liquidity thins. In the long term, a stabilization would require that the inflow trend reverses (or is absorbed) and that spot demand returns; otherwise, repeated sell pressure can keep BTR trapped below support and weigh on sentiment toward Bitlayer-related risk assets.