Despite Bitlayer's BTR token daily trading volume soaring 648% to $128 million, its price still plummeted nearly 78% within 24 hours, falling to approximately $0.041. The sharp decline was attributed to profit-taking and liquidations by early holders, triggering concerns on social media. Short-term forecasts suggest BTR price could further decline to $0.031, but long-term recovery potential remains for this Bitcoin Layer 2 project backed by Polychain and Franklin Templeton.