Cryptocurrencies Price Prediction: Bitcoin, Aptos & Cryptos – American Wrap 11 December
Bitcoin price backtracks to $40,000 as whales move to sell $671 million worth of BTC
Bitcoin price crashed on Monday for the first time in nearly three weeks. The market was expecting a bullish continuation until the Securities & Exchange Commission (SEC) approves a spot BTC ETF in January 2024. However, the sudden drop in the market surprised investors on Monday, which resulted in the breakdown of this optimism, also known as “panic”, caused by whale selling.
Aptos, a Layer 1 blockchain token, is heading towards a scheduled token unlock event. on Tuesday, December 12, 24.8 million APT tokens worth $195 million will be unlocked. The token unlock is a key event as it is likely to influence APT price.
A wave of profit-taking hit the cryptocurrency market on Monday morning. It seems that the failure of cryptocurrencies to rise over the weekend caused players to pull stop orders very close to market prices, and we saw a massive exit from long positions in low liquidity before the regular session in Asia. Strong demand for risk assets in traditional markets suggests that the market will try to get back on its previous growth track.
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