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