Monero's Night of Terror: Giant Whales Appear, Prices Crash, How Long Can the Privacy Myth Last?

In just one day, XMR soared like a rocket, only to fall like a shooting star. The price once skyrocketed by 50%, instantly triggering market excitement, but unexpectedly plummeted by 17%, startling the bulls. AMBCrypto reveals the secret: this rebound has no foundation and is merely a dance of false flames.

On-chain detective ZachXBT exposes: a hacker is suspected of washing over $300 million in BTC to XMR, activating a massive influx of funds. However, financing rates plummeted sharply, and the open interest data hit a new low for the year, while the derivatives market buzzed with fear, with bearish currents surging.

The technical indicators also reveal deadly signals: RSI broke through 83, indicating severe overbought conditions; although CMF remains positive, it cannot mask the dominant selling pressure. If the resistance at $284 cannot be broken, XMR may fall to $231, or even slide down to the previous low of $199.

Is the king of privacy coins no longer glorious? Entering the market at this moment may be akin to licking blood from a knife.