By Crypto Market Desk
Aster Climbs Back to $1 after a sharp market downturn that wiped out billions in leveraged crypto positions. Despite a brutal week for cryptocurrencies, the token’s resilience stands out as more than $1.8 billion in trades were liquidated across global exchanges, leaving investors on edge.
While major assets like Bitcoin and Ethereum plunged to multi-week lows, Aster managed to stand out—fueling debate about whether the decentralized exchange (DEX) token has found its short-term bottom or is simply riding a volatile wave.
Aster Climbs Back to $1 Amid Crypto Market Chaos
The Aster (ASTER) token, native to the decentralized trading platform known for perpetual and spot trading, briefly spiked from $0.85 to $1.28 before retracing back to the $1 range.
According to on-chain data, the token regained momentum on November 4, climbing above $1 after days of intense selling pressure. Its recovery comes amid a broader market rout that erased billions in investor positions and reignited concerns over the sustainability of the current crypto rally.
Despite macroeconomic headwinds—ranging from a strengthening U.S. dollar to uncertainty around future Federal Reserve rate cuts—Aster’s sharp rebound caught traders’ attention.
Traders are debating whether Aster Climbs Back to $1 marks the start of a new bullish phase or just a temporary relief rally.
Why Aster Climbs Back to $1 Matters for Traders
The week began with a dramatic surge in Aster’s price following an announcement from Binance founder Changpeng Zhao (CZ), who disclosed he had personally purchased 2.09 million ASTER tokens, worth approximately $2 million.
The endorsement triggered a buying frenzy, pushing Aster up nearly 38% in hours, with trading volume jumping over 1,100% to $2.3 billion. The platform’s Total Value Locked (TVL) also reached $1 billion.
However, the excitement was short-lived. Within 24 hours, Aster’s price plunged nearly 35%, erasing all of its gains as short sellers piled in. Despite the volatility, the token stabilized near $1—marking one of the few recoveries in an otherwise red market.
“Anti-CZ Whale” Scores $21 Million in Short Profits
While retail investors were caught in the turbulence, a mysterious trader dubbed the “Anti-CZ Whale” reportedly made over $21 million in profit by shorting Aster right after CZ’s buy announcement.
Data from Lookonchain and Hyperliquid revealed two wallets linked to the trader had opened $51 million in ASTER shorts, capitalizing on the token’s sharp post-announcement drop.
As Aster slid from $1.26 to below $0.90, the whale’s unrealized profits soared, further intensifying bearish sentiment across the DEX ecosystem.
CZ himself later acknowledged his poor timing in a post on X, writing:
“Every time I buy coins, I get stuck in a losing position… Be careful of risks.”
He also suggested he may stop publicly disclosing his purchases to avoid market distortion.
Broader Crypto Market Meltdown
The wider cryptocurrency market has faced its roughest start to November in years.
- Total Market Cap: Down nearly 4% to $3.6 trillion.
- Bitcoin (BTC): Fell over 7%, dipping below $100,000.
- Ethereum (ETH): Down 13% to $3,150 — its steepest drop this year.
- Altcoins: Solana slid 11%, while ETF outflows crossed $1.3 billion in just five days.
More than 330,000 traders were affected by liquidations over the past 24 hours alone. Ethereum longs accounted for about $500 million in losses, while Bitcoin longs added another $497 million.
Analysts noted some single liquidation orders reached $48 million, echoing the massive wipeout seen during October’s “black swan” event tied to U.S. tariff fears.
Three Altcoins Facing Heavy Liquidations
1. Ethereum (ETH)
ETH’s liquidation data shows that short positions dominate. If ETH rebounds to $4,000, over $4.2 billion in shorts could be wiped out. Analysts point to a bullish divergence, hinting at a possible recovery if momentum returns.
2. Aster (ASTER)
Aster’s own liquidation map indicates $44 million in short exposure at risk if the token climbs to $1.4. However, if it slips to $0.9, long traders could face $15 million in losses. Market watchers say another update from CZ could trigger renewed volatility.
3. Dash (DASH)
The privacy coin has been on a breakout run, recently hitting a three-year high. Yet, bearish traders remain overexposed. A move to $105 could liquidate over $13 million in shorts.
Is Aster Headed for a Breakdown?
Despite its short-term resilience, analysts warn Aster remains vulnerable. Technical indicators such as the Relative Strength Index (RSI) and Chaikin Money Flow (CMF) show mounting selling pressure and declining investor confidence.
At press time, Aster trades around $1.07, clinging to support near the $1.00 level. A decisive break below could send prices toward $0.88 or lower, potentially triggering a new wave of panic selling.
However, a move into the oversold RSI zone could spark a rebound, as bargain hunters look to buy the dip. If Aster manages to break above $1.01, technical models suggest a short-term rally toward $1.20–$1.50 could follow.
Analyst Outlook: Bearish Yet Opportunistic
While the market sentiment remains bearish, some chart analysts believe Aster is forming a falling wedge pattern on the four-hour chart—a setup that often signals a potential bullish reversal.
Still, the broader trend depends on liquidity inflows and trader confidence. As long as capital continues to flow out of decentralized exchanges, a sustainable recovery may be hard to achieve.
Analysts agree that while Aster Climbs Back to $1 shows strong short-term resilience, the token remains vulnerable to market sentiment shifts.
Final Thoughts
Aster’s return to $1 underscores both its volatility and the speculative nature of today’s crypto markets. The token’s fate now hinges on whether traders interpret the recent turbulence as a buying opportunity or the start of a deeper correction.
As the crypto market continues to face uncertainty—from macroeconomic pressures to whale-driven volatility—Aster remains a token to watch closely in the weeks ahead.
In summary, Aster Climbs Back to $1 is more than just a recovery headline it reflects how fast sentiment can change in today’s crypto markets.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Always conduct your own research before investing in cryptocurrencies.
