$$MITO 24 hours down 16%, and this is just the beginning. The support at 0.0204 looks like a paper-thin wall. The trading volume of 35 million indicates that people are still bleeding out and fleeing rather than bottom fishing.

【Gate.io】Latest news: MITO team announced the termination of cooperation with a certain market maker, citing "strategy adjustment." Translated into trading logic: liquidity providers have pulled out, market depth will worsen, short-term swing traders will face soaring slippage costs, and the main players no longer want to play here. Even more brutal, yesterday's high of 0.0257 was exactly the point where retail investors were lured into a trap and harvested. Now chasing in is just stepping on the main players' toes.
Immediate trading impact: If the US stock market rebounds tonight, MITO may follow suit and rebound to around 0.0215, but that will be the last chance to escape. Currently, the bears are controlling the market. Once the psychological level of 0.0200 is broken, there is no support below, and it will directly look at 0.0185. I have already placed a short order at 0.0212, with a stop loss at 0.0220, take profit at 0.0190, and only allocated 2% of my total funds because this kind of decline can easily produce fake rebounds with spike candles. Keep a light position to prevent being wiped out.
Guess who will buy MITO now? It’s gamblers who think "it’s already fallen a lot and is very cheap." I looked at the on-chain data, and half of the large buy-ins yesterday came from newly created addresses, which is a classic "snatch cheap goods" trap. Has the news been priced in? No, the impact of market makers leaving usually takes 2-3 days to fully ferment. Tonight until early tomorrow morning will be the real test. If you still hold positions, I suggest setting a strict stop-loss to prevent "waiting for a rebound" from turning into "waiting for zero."