
Jakarta, Pintu News – The crypto market started the week with moderate pressure as a combination of macro and technical factors again overshadowed price movements. Bitcoin moved lower in the area around USD 89,300 or equivalent to IDR 1.49 billion, while Ethereum fell to the range of USD 3,119 or around IDR 52 million.
Amidst this weakness, market participants’ attention is focused on two main triggers, namely the Bank of Japan’s (BoJ) potential interest rate hike as well as the large token unlock wave scheduled to occur throughout December 15-21.
Macro sentiment has been the first layer of pressure on the cryptocurrency market this week. The Bank of Japan is scheduled to announce its monetary policy decision, and prediction markets indicate a very high probability of a rate hike. Based on Polymarket data, the chance of the BoJ raising interest rates stands at more than 98 percent.
Japan’s interest rate hike has the potential to strengthen the yen and trigger a global carry trade reversal. Historically, these conditions have often pressured riskier assets, including stocks and crypto. As a result, investors tend to reduce short-term exposure while waiting for certainty on the direction of global monetary policy.
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In addition to macro factors, the market is also facing increased supply from the token unlock scheduled for this week. Token unlocks are events that release previously locked tokens, increasing the circulating supply in the market. In fragile sentiment conditions, these events often trigger additional volatility.
Data from CryptoRank shows that seven major projects will unlock tokens of significant value between December 15 and 21. The total unlock value is in the hundreds of millions of dollars, which could potentially increase selling pressure if some of the tokens are released to the open market. The combination of new supply and risk-off sentiment is making market participants more cautious.
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Aster is the project with the largest token unlock this week, with a value of approximately USD 75.36 million or equivalent to IDR 1.26 trillion. This amount represents about 3.4 percent of its market capitalization, making it a major concern for short-term traders. The large unlock value makes Aster’s price movements potentially more volatile.
LayerZero followed with an unlock token worth USD 37.42 million, equivalent to 10.3 percent of the market cap. Arbitrum is also scheduled to unlock USD 19.78 million worth of tokens. The actual impact on the price will largely depend on whether the tokens are sold immediately or kept by holders.
Outside of the top three, several other projects are also facing relatively large unlocks relative to their market size. Vana will unlock a token worth USD 17.41 million or around Rp290 billion, almost 20 percent of its market capitalization. This is a high percentage and has the potential to trigger a sharp market reaction.
Esports project Yooldo is scheduled to unlock USD 17.22 million worth of tokens, equivalent to nearly 26 percent of its market cap. Meanwhile, STBL will face the largest unlock proportionally, which is about 57.7 percent of its market capitalization. Merlin Chain is also on the list with an unlock of around USD 16.11 million.
This week’s crypto market is in a sensitive phase due to a combination of macro pressures and increased token supply. A potential BoJ rate hike creates risk-off sentiment, while large token unlocks add to the risk of short-term volatility. While not necessarily signaling a major trend change, these conditions demand extra caution from traders and investors. In the short term, price movements are likely to be dictated more by risk management than bullish narratives.
Token release is the process by which previously locked tokens become available for trading on the market. This increases the amount of supply in circulation and can create selling pressure, especially if the market is experiencing negative sentiment.
Aster is scheduled to release tokens worth about $75.36 million, which represents about 3.4% of their market capitalization.
The STBL project will release tokens worth approximately $16.12 million, which is 57.7% of its market capitalization, making it the largest percentage release to market capitalization.
Investors and traders should monitor price movements and trading volumes that may be affected by the release of these tokens. They may need to adjust their investment strategies based on the changing supply and demand dynamics.
Not always, but token releases often create short-term selling pressure, especially if the number of tokens released is large and the market is experiencing negative sentiment.
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*Disclaimer
This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Trading crypto carries high risk and volatility, always do your own research and use cold hard cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.
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