YEREVAN (CoinChapter.com) — Aptos (APT) has been trading between $5.63 and $6.53 for the past four weeks, showing limited movement. The market has remained volatile, keeping traders cautious. Many have favored short positions over long ones, increasing pressure on the price.
Aptos price has struggled to break out of this range, reflecting broader uncertainty in the cryptocurrency market. However, recent developments, including Bitwise’s filing for an APT ETF, have changed sentiment, introducing the potential for a shift in price action.
Aptos ETF Filing Brings Institutional Attention
The APT ETF filing by Bitwise has drawn attention to Aptos. Over the past month, traders have leaned bearish, as seen in the funding rate, which reflects a preference for short positions. With selling pressure dominating, Aptos price has struggled to move beyond its consolidation phase.
Institutional involvement through an ETF could lead to increased market activity. If the shift in sentiment continues, traders may start favoring long positions, which could impact Aptos price movement.
APT OI-Weighted Funding Rate Trends and Price Fluctuations. Source: CoinglassMACD Indicator Signals Shift in Aptos Momentum
The MACD indicator shows increasing bullish momentum after declining last week. This shift suggests Aptos price action may be gaining strength. A continued upward trend in the MACD could indicate a potential breakout past the $6.53 resistance level.
Market indicators and sentiment shifts could influence Aptos price trends. If bullish momentum continues, it could affect trading volumes and market positioning.
Aptos MACD Indicator Shows Growing Bullish Momentum. Source: TradingViewAptos Price Approaching Resistance at $6.53
Aptos has recorded a 9% increase in the past 24 hours, signaling increased trading activity. Despite this, Aptos price remains within the $5.63 to $6.53 range.
A move past $6.53 could indicate the end of consolidation. If buying pressure increases, Aptos price could target $7.20. A failure to break resistance may keep it within its current range.
If Aptos price drops below $5.63, it may decline further toward $4.96. The next few sessions will determine whether Aptos price movement follows a bullish or bearish trajectory.
Aptos Price Chart with Key Resistance and Support Levels. Source: TradingViewBitwise Files for Aptos ETF in Delaware
Bitwise Asset Management has filed for an Aptos (APT) ETF trust in Delaware, marking the first move toward a U.S.-based exchange-traded fund for the altcoin. The filing, submitted on Feb. 25, is an initial step that does not guarantee approval, as Bitwise must still go through the U.S. Securities and Exchange Commission (SEC) review process.
Bitwise Aptos ETF Registration Details in Delaware. Source: State of Delaware Official WebsiteThe SEC will evaluate the ETF’s structure, investment strategy, and market tracking methodology, which could take months. The agency may approve, reject, or request modifications before allowing the fund to launch. If approved, an Aptos ETF would provide institutional and retail investors exposure to APT without requiring direct ownership or management of the asset.
The move aligns with growing institutional adoption, following the launch of Aptos exchange-traded products (ETPs) in Europe, including the Bitwise Aptos Staking ETP and 21Shares Aptos Staking ETP.
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