**APT Faces Critical Support Level Amid Intensified Bearish Pressure**

Aptos (APT), currently at a crucial support level, stands at a crossroads that could determine its future trajectory. Recent on-chain metrics point to an aggressive sell-off, with market indicators suggesting sustained selling pressure. Over the past 24 hours, APT has experienced a notable drop of 6.61%, placing it among the biggest losers according to CoinMarketCap data. This downturn extends a week-long bearish trend, culminating in a 10.05% decline.

The support level at $8.09 is pivotal for APT. This threshold typically attracts sufficient buying interest to trigger a price rebound; however, no recovery is guaranteed. A bounce from this support could propel the price back into a nearby supply zone before any potential cooling off. Conversely, should APT fail to maintain this level, the next downside targets stand at $7.23, then $6.42, and potentially as low as $6.04.

The bearish outlook is corroborated by on-chain data from Coinglass, indicating an intensified sell-off that pressures APT's price downward. Liquidation data reflects a prevailing bearish sentiment, with the market witnessing $1.65 million in liquidations over the past 24 hours. Notably, $1.45 million of these liquidations originated from long positions, surprising traders who had anticipated a price rally. In contrast, short liquidations only totaled $202,370, highlighting the dominance of bearish pressure.

Furthermore, declining Open Interest suggests a potential fall for APT. Having peaked at $259.04 million on October 14, Open Interest has since dropped to $168.96 million. This drop signifies reduced buying interest and an expected increase in short positions as traders brace for further declines in APT.

Adding to the bearish sentiment, APT's Exchange Netflow has risen over the past 12 hours, indicating decreased market confidence that has contributed to the current price slump. As positive Netflow often signals potential price drops due to increased token inflows to exchanges, the outlook for APT appears increasingly bearish.

The coming days will be crucial in determining whether APT can recover or continue its downtrend.