Big G's 1000 SATS plummet report: evaporated 22% in one day, who's messing up the market?
Brothers, today's 1000 SATS plunge is indeed severe! Down 22% in one day, the retail investors must be feeling hopeless. Let's break down the major players behind this; after reading, you'll understand why this coin suddenly collapsed!
Bitcoin takes the lead in a plunge, and the little brothers collectively crash
Recently, Bitcoin has plummeted from $44,000 to $42,000; if the big brother can't hold on, the little brothers are even more hopeless! This 1000 SATS engraved token is tied to Bitcoin; when Bitcoin falls, it must follow, as the entire ecosystem relies on BTC on-chain activities. This plunge was dragged down by the big brother.
Engraved coins are cooling off, demand is plummeting sharply
This year's enthusiasm for engraved coins in the Bitcoin ecosystem is nowhere near as strong as before! Last year, ORDI and SATS could still crazily attract funds with BRC-20, but now on-chain trading volume has shrunk by over 60%, miner fee income has plummeted, and project teams can't even be bothered to push new protocols. With no one playing engraved coins, the demand for tokens naturally collapses, leading to a free-fall in price.
Technical collapse triggers a chain of liquidations
Yesterday, it just broke the critical support level of 0.000092, triggering a bunch of stop-loss orders to crash the market. On-chain data shows that a giant whale dumped 120 million SATS in one go, instantly smashing the pool, causing retail investors to panic and sell, leading to a spiraling price drop. Even more shocking, the technical analysts had already noticed a divergence between the RSI indicator and price trends; this plunge had been warned about in advance.
Capital rotation fleeing, no one to catch the fall
Recently, the market style has changed drastically, with all funds rushing to speculate on AI coins and RWA concepts! The Bitcoin ecosystem, this 'has-been internet celebrity', is being ignored altogether; the liquidity has dried up, leaving no one to catch the falling knife during the crash. Moreover, the SEC has recently been targeting air coins, and project teams dare not pump the market, so they can only lie down and let themselves get cut.
What to do next?
For spot traders: around 0.000085 is the dense area of chips from last year; if it holds up, there might be a chance for a rebound, but don't go heavy!
Contract traders: Stay away! Such high-volatility coins can trigger liquidation in an instant; be careful not to get harvested by the big players.
In short, the wave of 1000 SATS is a disaster both natural and man-made. Remember, in a bear market, engraved coins are paper tigers; those who run fast are the winners!
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