200k HYPE tokens continue to be dumped! The BIT-related address becomes the market's "mobile nuclear bomb"

Who is the biggest psychological shadow for HYPE players recently?
Not the bears,
Not the bear market,
But a wallet address.
On-chain data shows that the BIT-related address has sold off HYPE again, totaling 200k tokens.
Market sentiment instantly turns sour.
Because the scariest thing is not selling coins.
But "continuous selling."
It's like a barbecue stall downstairs having a clearance sale every day:
On the first day, everyone rushes in,
By the fifth day, everyone starts to suspect the owner is planning to run away.
HYPE's current problem is similar.
The project itself is still popular,
The ecosystem isn't dead,
But the market is increasingly worried:
"How much more is left to sell?"
And what the crypto market fears most is unknown selling pressure.
You never know:
Will the next bearish candle come from that familiar wallet again?
So recently, a funny phenomenon has appeared:
Many people no longer look at technical indicators,
They start to focus on on-chain wallets.
Candlestick charts are not important,
Wallet balances are what matter.
Even more surreal is:
In the past, retail investors were afraid of whales "secretly selling."
Now, whales are no longer hiding.
They directly sell openly on-chain.
The whole market seems to be watching a live broadcast:
"Today's dumping progress update."
The problem is:
When the market forms a consensus that "someone is continuously selling,"
Buyers become more hesitant.
Because no one wants to be the one catching the falling knife.
So the price drops further,
Sentiment worsens;
The worse the sentiment,
The more the price falls.
Creating a classic death spiral.
Of course