Aptos (APT) has fallen 3.5% over the past 24 hours to $5.34, according to data from crypto.news, following a strong 43% rebound from $3.91 on Sept. 26 to $5.57 on Oct. 5.
The pullback comes as traders grow cautious ahead of a major token unlock. Data from Tokenomist shows that on Oct. 11, over 11.31 million APT—worth approximately $60.5 million—will be released into circulation, representing about 2.15% of the token’s circulating supply.
Large-scale unlocks like this often increase selling pressure as investors anticipate potential profit-taking. Without sufficient new demand to absorb the added supply, market sentiment can turn bearish, amplifying downside risk.
According to CoinGlass, open interest in Aptos futures has declined 1.45% in the past day, while the weighted funding rate has flipped sharply negative—indicating that short traders are paying longs to maintain their positions. These metrics suggest growing bearish sentiment ahead of the unlock.
However, Aptos could mitigate some of the expected selling pressure through fresh developments. Notably, Bitwise recently filed for an APT exchange-traded fund (ETF), which, if approved, could boost investor confidence and attract new inflows into the ecosystem.
September was also a strong month for Aptos, with monthly app revenue hitting an all-time high of $4.43 million. If this momentum continues into October—a month that has historically been bullish for crypto markets—the project could offset much of the anticipated sell pressure from the upcoming token release.
Another factor that could lend support to Aptos is the rising stablecoin liquidity within its network. Over the past week, the total stablecoin market capitalization on Aptos has jumped nearly 17%, indicating a renewed flow of capital into the ecosystem.
This increase points to deeper on-chain engagement rather than mere asset parking. Users appear to be actively deploying stablecoins across lending protocols, liquidity pools, and decentralized exchanges, suggesting a gradual strengthening of Aptos’s core network activity.
Aptos Price Analysis
On the daily chart, APT has confirmed a breakout from a descending triangle pattern—a technical formation that often signals a potential reversal from bearish to bullish momentum.
The token is currently trading above all major simple moving averages, signaling that bullish momentum remains strong and buyers continue to maintain control of the market.
Additionally, the MACD line has crossed above the signal line, with both indicators trending higher and the green histogram bars expanding—a clear sign of strengthening bullish sentiment among traders.
Collectively, these technical indicators suggest that, as of press time, APT’s key support level sits near $4.84 (its 200-day SMA), while immediate resistance is positioned around $5.67, marking its recent high from Oct. 5.
