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## Daily Summary: XRP ETF may be launching soon, and 26 U.S. states have proposed Bitcoin reserve bills.
According to Farside Investors, yesterday saw a net inflow of $18.3 million into U.S. <a href="/ja/price/bitcoin-btc" target="_blank" class="blog_inner_link">Bitcoin</a> spot ETFs, with $18.3 million flowing out of Bitwise BITB, while BlackRock's data has yet to be updated.

Meanwhile, <a href="/ja/price/ethereum-eth" target="_blank" class="blog_inner_link">Ethereum</a> spot ETFs saw an outflow of $5.9 million, with $4.9 million of that coming from Grayscale ETH.

### Bloomberg Analysts: XRP ETF May Launch in the Coming Months
James Seyffart, a Bloomberg analyst, stated that the <a href="/ja/price/xrp-xrp" target="_blank" class="blog_inner_link">XRP</a> ETF could launch in the coming months, with the likelihood of an <a href="/ja/price/xrp-xrp" target="_blank" class="blog_inner_link">XRP</a> futures ETF first. The probability of approval for an XRP ETF by 2025 has increased after the SEC decided to dismiss the Ripple lawsuit.

Ripple CEO Brad Garlinghouse revealed in a Bloomberg TV interview that an XRP ETF might launch in the second half of 2025, with 11 XRP ETF filings currently awaiting approval from SEC.

### Opinion:  Bitcoin Bullish Flag Pattern Forming
Matrixport’s daily chart analysis indicates <a href="/ja/price/bitcoin-btc" target="_blank" class="blog_inner_link">Bitcoin</a> is nearing a breakout from a key descending trendline, which has been suppressing the price since the market sell-off around Trump's inauguration. Bitcoin is currently forming a "high-tight flag" pattern, typically seen as a bullish signal.
Bitcoin has already broken through the initial descending trendline (white line) and is testing more significant resistance (gray line). A successful breakout would signal a reduction in downward risk. With the Federal Reserve's dovish tone, the market environment is becoming more favorable, and this shift is increasingly visible in the technical charts.

### U.S. States Propose Bitcoin Reserve Bills
According to Cointelegraph, more than half of U.S. states (26 out of 50) have proposed Bitcoin reserve bills, with many suggesting allocating up to 10% of state funds into crypto assets. Wisconsin became the first state to purchase Bitcoin ETFs, holding $588 million by Q4 2024.

## Market Analysis: BTC Drops Below $86,000, Altcoins Deliver Mixed Performances
### Market Highlights:
The meme coin Ghiblification reached a market cap of $15 million within 15 hours of launch. Following AI-generated Ghibli-themed images shared by Elon Musk, Ultraman, and other celebrities on X, the token saw a massive short-term surge. However, users are advised to remain cautious about its long-term sustainability.

Meme coin JELLY faces short-selling pressure on HYPE. JELLY, created by former Facebook VP Sam Lessin on the PumpFun platform, was delisted by HYPE after a drop in market sentiment. This move sparked dissatisfaction, leading to a sharp decline in HYPE’s value. At the same time, it sparked intense discussions within the community about the centralization issues surrounding centralized exchanges (CEX) and perpetual decentralized exchanges (Perp DEX), as well as blockchain protocol centralization.

### Market Trends:
BTC briefly dropped below $86,000, with the fear and greed index at 40, signaling growing market fear. Bitcoin is now attempting to correct the downward trend, with the $90,000 level acting as key resistance. A successful recovery could open the door to new opportunities.

ETH remains in consolidation around the $2,000 mark, with its market share dipping to 8.68%, while ETF data continues to show outflows, reflecting weak market sentiment.

Altcoins show mixed performance, with previous hot sectors like AI and RWA dropping, while meme coins show signs of recovery, leading the altcoin market.

## Macro News: Tariff Concerns Hit U.S. Stocks, First Decline in Four Days
The major U.S. stock indices posted their first decline in four days, with tech stocks leading the losses. At the close, the Dow Jones Industrial Average fell 132.71 points (-0.31%), the S&P 500 dropped 64.45 points (-1.12%), and the Nasdaq Composite lost 372.84 points (-2.04%), marking its biggest single-day drop since March 11.

The news about tariffs under the Trump administration has once again impacted the U.S. stock market. After weaker-than-expected consumer confidence was reported on Tuesday, investors grew more concerned about the potential economic impact of an escalating trade war. Late Wednesday morning, reports emerged that President Trump was set to announce automobile tariffs later that day, which caused a market pullback, with all three major indices falling, led by tech stocks.

<div class="blog-details-info">
<div>Author: Gate.io Researcher Orisi T.
<div class="info-tips">\*This article represents only the views of the researcher and does not constitute any investment suggestions.All investments carry inherent risks; prudent decision-making is essential.
<div>\*Gate.io reserves all rights to this article. Reposting of the article will be permitted provided Gate.io is referenced. In all cases， legal action will be taken due to copyright infringement.
</div>

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Daily News | HYPE Drops Sharply, BTC Continues its Consolidation