BTC On-Chain Demand Elevates Near $20k; Aptos Raises $150M in New Funding Round
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The broader crypto market deepened its losses amid debate over the impact weaker economic data will have on the U.S. Federal Reserve's strategies to combat inflation. The largest cryptocurrency by market cap has pared its gains from last week, and instead incurred a 7% loss on the back of profit-taking activities near the $23k level. As of the time of writing, BTC is consolidating at the lower end of the $21k region after shedding 3.3% of its market value in the last 24 hours. A bearish trend line with resistance near $21.9k is taking shape on BTC's hourly chart. Failure to break above this level would likely send BTC to test support near the $20k to $20.5k zone.