Crypto Chaos: Why Your Wallet is Crying and APT is the New Star of the Show! 💸

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What to know:

  • Major tokens XRP, BNB Chain’s BNB, Cardano’s ADA, and DOGE are having a collective meltdown, slumping as much as 4%. It’s like watching a sad puppy video, but with money. 🐶💔
  • In a shocking twist, bullish bets on futures tracking crypto majors recorded over $600 million in liquidations. Who knew optimism could be so expensive? 💸
  • A New York Fed research suggests that President Trump’s latest tariffs on imports from China are hitting the American economy harder than a piĂąata at a kid’s birthday party. 🎉

Ether (ETH) is on a downward spiral, dropping 7% in the last 24 hours. It’s like watching a soap opera where the plot just keeps getting worse. 📉

Bitcoin (BTC) was trading between $89,000 to $82,500 on Wednesday, only to stage a slight recovery to just over $86,000. It’s the financial equivalent of a rollercoaster ride, minus the fun. 🎢

Meanwhile, major tokens XRP, BNB Chain’s BNB, Cardano’s ADA, and dogecoin (DOGE) are all in the red, with bullish bets on futures tracking majors recording over $600 million in liquidations. It’s like a bad breakup, and everyone’s crying. 😢

On the bright side, Litecoin’s LTC and Aptos’ APT are the few tokens in green, rising over 10% each. APT is getting a boost from the “BITWISE APTOS ETF” registration in Delaware, which is about as exciting as watching paint dry, but hey, it’s something! 🎨

“It’s unlikely that institutional investors would have long-term conviction in the Bitcoin clone, as it offers no yield, utility, or organic demand outside of ETF approval speculation,” said Ben Yorke, WOO VP of Ecosystem. Sounds like a real party pooper, doesn’t he? 🎉

“This would likely be a ‘sell the news’ event, as investors would look to rotate into more topical trends and future ETF rumors,” he added. Because who doesn’t love a good rumor? 🙄

Losses in crypto markets are mirroring those in U.S. equities after Nvidia’s earnings report failed to impress. It’s like a bad date that just keeps getting worse. 🍽️

In other news, a New York Fed research indicates that Trump’s tariffs are impacting the American economy more than expected. It’s like finding out your favorite restaurant has closed down. 😩

Market watchers are eagerly awaiting macroeconomic cues for a Bitcoin rally, but it seems like waiting for a bus that never arrives. 🚌

“The Fed is not a player at this juncture as rate cuts are likely to be muted against sticky inflation,” said Chris Yu, Co-Founder and CEO of SignalPlus. Sounds like a real downer, right? 😒

“Crypto-friendly policies will likely take some time before they materialize into tangible frameworks, while a fall in implied BTC volatility with falling prices is a negative sign that speculators have started to throw in the towel on higher prices in the near term,” he added. It’s like watching a slow-motion train wreck. 🚂💥

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2025-02-27 10:50