Crypto Today: Bitcoin, Ethereum, XRP struggle to regain momentum amid returning ETF outflows
- Bitcoin trades under pressure below $84,000 as institutions break nine consecutive days of ETF inflows with $149 million in outflows.
- Ethereum trades broadly sideways between short-term support at $2,600 and long-term support at $2,800.
- XRP extends its correction below $1.50 amid muted ETF activity and weakening momentum indicators.
Bitcoin (BTC) trades broadly between support at $82,500 and resistance at $85,000. The lockstep trading continues on Thursday, as bulls push for a breakout toward the upper range limit. Ethereum (ETH) similarly remains under pressure, trading below $2,700 while the $2,600 level provides immediate support.
At the same time, Ripple (XRP) has slipped below the pivotal $1.50 level, suggesting headwinds are intensifying and reducing the odds of a stable recovery.
Bitcoin and Ethereum wobble amid capital outflows
Bitcoin Spot Exchange-Traded Funds (ETFs) recorded the first outflow after nine straight days of inflows. According to SoSoValue data, institutions withdrew $149 million on Wednesday, bringing cumulative inflows to roughly $58 billion. Meanwhile, net assets under management stand at $108 billion. If the drawings continue, it would signal buyer exhaustion despite the Fear & Greed Index holding firmly in the Greed territory.
Ethereum spot ETFs also recorded outflows, totaling $60 million on Wednesday, up from minor drawings of $3 million on Tuesday. Cumulative inflows total $14 billion with net assets under management at $18 billion, according to SoSoValue.
As for XRP, US-listed spot ETFs remained muted on Wednesday and Tuesday after five consecutive days of inflows. With cumulative inflows near a record $1.8 billion and net assets at $1.7 billion, investors appear to maintain a long-term positive outlook on XRP.
Technical analysis: Bitcoin grapples with growing sell-side pressure
Bitcoin trades at $83,450, as bulls strive to defend support toward $82,500. Still, the Crypto King maintains a constructive bullish bias as price holds well above the short and long-term Exponential Moving Averages (EMAs) and the active SuperTrend line.
The Relative Strength Index (RSI) around 60 suggests steady bullish momentum despite a still-negative Moving Average Convergence Divergence (MACD), which hints that upside pressure is moderating rather than accelerating.
On the downside, initial support is seen around the SuperTrend level at $78,352, reinforced by the nearby 50-day EMA at $78,029, forming a first demand zone if BTC pulls back. A deeper correction would expose the EMA cluster around $74,500, where the 100-day and 200-day EMAs converge as a stronger structural floor. As long as price holds above this band, the broader uptrend is likely to remain intact.
Altcoins technical analysis: ETH and XRP face weakening momentum indicators
Ethereum remains below $2,600, providing short-term psychological support, while $2,700 caps its upside. Despite prevailing sell-side pressure, ETH maintains a constructive bias as price holds well above the 50-day, 100-day, and 200-day EMAs clustered between roughly $2,260 and $2,456, while also staying above the SuperTrend support near $2,434.
The RSI around 62 suggests bullish momentum persists, though the MACD remains below the zero line, hinting that upside pressure is positive but not yet runaway.
Initial support lies at the 50-day EMA around $2,456, reinforced by the SuperTrend line near $2,434 as a nearby demand zone. A deeper pullback would expose the 100-day EMA at about $2,290, with the 200-day EMA near $2,261 acting as a more distant trend-defining floor as long as price continues to trade above this broader support stack.
XRP, meanwhile, is maintaining a bullish near-term bias despite the correction below $1.50 from September highs of $1.66. The remittance token holds firmly above the key EMAs. The 50-day EMA at $1.38 and the 200-day EMA at $1.38 form a tight underlying demand band just below spot, while the 100-day EMA at $1.31 adds deeper trend support.
The SuperTrend line at $1.28 remains well below the market, suggesting the broader uptrend is still intact despite the latest pullback from recent highs. Momentum is constructive but not stretched, with the RSI hovering near 55 and the MACD slipping slightly below zero, which suggests a moderating but still positive tone rather than an outright reversal.
Immediate support lies at the current trading area near $1.49, ahead of the clustered 50-day and 200-day EMAs around $1.38, which should act as the first meaningful floor if selling pressure intensifies. A deeper correction would likely target the 100-day EMA at $1.31 and the SuperTrend support at $1.28, where buyers could try to reassert control.
With no clear overhead technical levels on the daily chart, any fresh advance would be driven by price discovery, and a sustained hold above the EMA cluster reinforces the constructive bias while keeping the focus on dips as potential buying opportunities rather than a trend break.
(The technical analysis of this story was written with the help of an AI tool. Know more.)
Crypto ETF FAQs
An Exchange-Traded Fund (ETF) is an investment vehicle or an index that tracks the price of an underlying asset. ETFs can not only track a single asset, but a group of assets and sectors. For example, a Bitcoin ETF tracks Bitcoin’s price. ETF is a tool used by investors to gain exposure to a certain asset.
Yes. The first Bitcoin futures ETF in the US was approved by the US Securities & Exchange Commission in October 2021. A total of seven Bitcoin futures ETFs have been approved, with more than 20 still waiting for the regulator’s permission. The SEC says that the cryptocurrency industry is new and subject to manipulation, which is why it has been delaying crypto-related futures ETFs for the last few years.
Yes. The SEC approved in January 2024 the listing and trading of several Bitcoin spot Exchange-Traded Funds, opening the door to institutional capital and mainstream investors to trade the main crypto currency. The decision was hailed by the industry as a game changer.
The main advantage of crypto ETFs is the possibility of gaining exposure to a cryptocurrency without ownership, reducing the risk and cost of holding the asset. Other pros are a lower learning curve and higher security for investors since ETFs take charge of securing the underlying asset holdings. As for the main drawbacks, the main one is that as an investor you can’t have direct ownership of the asset, or, as they say in crypto, “not your keys, not your coins.” Other disadvantages are higher costs associated with holding crypto since ETFs charge fees for active management. Finally, even though investing in ETFs reduces the risk of holding an asset, price swings in the underlying cryptocurrency are likely to be reflected in the investment vehicle too.
Bài viết đề xuất
