Crypto Market Struggles: ETH, XRP Drop 5%, APT Rises 10% on ETF News

The cryptocurrency market saw more losses, following a similar trend in U.S. stock markets. This happened after tech company Nvidia reported earnings that didn't impress investors.

Ethereum (ETH) continued its downward trend, falling 7% in the last 24 hours. The broader market also declined, with Bitcoin trading between $89,000 and $82,500 on Wednesday before bouncing back slightly to $86,000 during early Asian trading hours.

Major cryptocurrencies, including XRP, BNB, Cardano (ADA), and Dogecoin (DOGE), also dropped, losing up to 4%. Many investors who had bet on prices going up saw over $600 million in losses.

Not all cryptocurrencies were down. Litecoin (LTC) and Aptos (APT) were among the few that gained, rising over 10%. Aptos' price jumped after reports of a BITWISE APTOS ETF being registered in the U.S. and speculation about a possible Litecoin ETF. However, analysts doubt Litecoin will see long-term interest, as it doesn't offer many unique features beyond Bitcoin.

U.S. stock markets also struggled, partly due to new tariffs on Chinese imports introduced by the U.S. government. Reports suggest that these tariffs are affecting the economy more than expected.

Many investors are waiting for economic changes that could push Bitcoin higher. However, some analysts believe the U.S. Federal Reserve is unlikely to cut interest rates significantly, as inflation remains a concern.

Meanwhile, crypto regulations are still developing, and experts think it will take time to establish clear rules. Bitcoin’s price also shows lower volatility, meaning fewer big price swings. Some traders see this as a negative sign, suggesting that investors may be losing hope for a significant price jump in the near future.