As investors awaited the tech earnings on Tuesday, Bitcoin and other crypto tokens fell. Wall Street in the US is anticipating Microsoft and Alphabet’s earnings, which are slated on April 25. Traders have long used the wait-and-watch strategy.

The largest cryptocurrency asset, Bitcoin, fell more than 1% but managed to hold above the $28,313 mark after a brief comeback. Ethereum, its biggest rival, lost another 2% and slipped below $1,850. The pain was worse in the altcoins.

BTC is down more than 1% this morning and has traded in the $27,000 level for the previous day. According to Parth Chaturvedi, CoinSwitch’s lead for the cryptocurrency ecosystem, ETH lost roughly 2% and is currently trading in the $1800 to $1900 zone for the same time frame.

A tremendous inflow of 571,950 ETH deposits worth over $1 billion for staking occurred following last week’s Ethereum Shanghai update. This week’s token influx for ETH was the highest ever recorded. Institutional staking service providers and investors who reinvest their profits after withdrawal were largely to blame for this spike.

All other popular tokens were trading lower on Tuesday, with the exception of stablecoins tethered to the US dollar. A 4% decline in Polygon was followed by a 3% decline in Solana. Other notable losers were Cardano, Polkadot, and XRP, each of which had a 2 percent decline.

The market capitalization of all cryptocurrencies was much lower, limping around the $1.15 trillion barrier after falling more than 1% in the previous day. But the overall trade volume increased by as much as 17% to $36.62 billion.

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