Cryptocurrencies Price Prediction: Aster, Bitcoin & Pi Network – European Wrap 18 December

Aster Price Forecast: ASTER declines for fifth straight day despite buyback efforts

Aster (ASTER) trades under intense selling pressure, recording 3% loss at press time on Thursday. The perpetual-focused exchange resumed its Stage 4 buyback program on Wednesday and currently holds almost 52 million ASTER tokens. Additionally, on-chain data reveals that large-wallet investors, commonly referred to as whales, are buying the dip while retail demand in the derivatives market fluctuates.

The technical outlook for ASTER remains bearish, as indicators suggest intense overhead pressure. Aster issued a clarification on its buyback program, driven by its Stage 4 daily revenue. The Binance-backed project revealed accelerated buying worth nearly $4 million per day between December 8 and 15, totaling almost $32 million. 

Bitcoin Price Forecast: BTC steadies near $87,000 as strong ETF inflows offset bearish pressure

Bitcoin (BTC) is attempting to stabilize, holding near $87,000 on Thursday after this week’s pullback. Institutional demand shows signs of optimism, as US-listed spot Bitcoin Exchange-Traded Funds (ETFs) recorded fresh inflows of over $457 million on Wednesday. However, reports suggest that BTC could remain sideways until fresh liquidity absorbs the overhead supply.

Institutional demand shows early signs of recovery. SoSoValue data show that Spot Bitcoin ETFs recorded inflows of $457.29 million on Wednesday, breaking the two-day outflow streak. Moreover, Wednesday’s inflow marked the largest single-day ETF inflow since November 11, providing a demand boost that helped counter near-term selling pressure. If these inflows continue and intensify, the Bitcoin price could see further recovery ahead.

Pi Network Price Forecast: PI faces resistance as whale offloads 1 million tokens

Pi Network (PI) holds steady above the $0.2000 psychological level after breaking out above a descending channel pattern on the 4-hour chart. However, the investors' confidence continues to decline as PiScan data reveals a large wallet investor, commonly referred to as a whale, deposited over 1 million on an exchange. The technical outlook for PI remains mixed as PI struggles to extend its recovery.

PiScan data shows a whale deposited over 1 million PI tokens on Gate.io exchange in two transactions over the last 24 hours. Typically, such large deposits on exchanges add to selling pressure and reflect a lack of investor confidence. Still, the investor is left with 7.9 million PI tokens, which could indicate a strategic sell-off to reduce risk.