Crypto Today: Investor capital withdrawals weigh on Bitcoin, Ethereum and XRP

• Spot ETF outflows of $399 million weigh on Bitcoin as it declines to six-week lows.
• Above support at $2,200, Ethereum remains rangebound, with major moving averages continuing to impose structural limits on gains.
• Modest ETF withdrawals accompany the ongoing battle between XRP buyers and sellers around $1.25.

Last week’s historic $6.3 billion Binance hack continues to overshadow Bitcoin (BTC), which is trading lower at $76,566 on Tuesday as it tests six-week lows. Since the incident, the leading cryptocurrency has largely followed a sideways path, with subdued conditions reflecting diminished risk appetite and capital withdrawals.

Pressure is also evident in Ethereum (ETH), which, like Bitcoin, is consolidating in a tight support range bounded by roughly $2,200 and $2,300. Structural technical barriers are meanwhile weighing on Ripple (XRP), leaving it just above $1.25.

In an emailed analysis report, Crypto Finance said: “The Binance hack continues to dominate the discussion. All things considered, the fact that the situation remains contained is remarkable given the reported scale of the incident,” adding, “It is arguably the type of event that very few parties could have absorbed.”

ETF withdrawals continue as institutional appetite weakens

Monday brought $399 million in outflows from Bitcoin spot exchange-traded funds (ETFs), following withdrawals of $643 million last Friday and prolonging the bearish run. Demand for digital asset investment products remains subdued as investors adjust their positions after the Binance hack unsettled the wider cryptocurrency market. According to SoSoValue, cumulative inflows nevertheless remain at $56.6 billion despite the recent withdrawals, while total assets under management average $98.1 billion.

Outflows of $140 million on Monday prolonged the negative trend for Ethereum spot ETFs, reducing cumulative inflows to $12.1 billion. Total assets under management, meanwhile, fell from last Friday’s $13.22 billion to $13.18 billion.

For US-listed XRP ETFs, Monday marked a second consecutive session of modest withdrawals, with $530,000 leaving the funds after outflows of $497,000 last Friday. Net assets under management stand at $1.4 billion and cumulative inflows remain positive at $1.8 billion, suggesting that investors retain a strong long-term view of the underlying asset.

Technical analysis: Bitcoin weakens as selling pressure builds

At $76,566, Bitcoin is testing its 200-day Exponential Moving Average (EMA), while the 100-day EMA at $77,776 continues to cap the price and maintain a bearish near-term outlook. Further overhead, the 50-day EMA at $80,099 adds to supply. Momentum indicators also remain weak: the Moving Average Convergence Divergence (MACD) is below zero with a subdued profile, while the Relative Strength Index (RSI) is around 34. Together, they point to continuing downward pressure rather than a convincing rebound from oversold conditions.

The 200-day EMA at $76,550 offers immediate support, while the first resistance is the 100-day EMA around $77,776, followed by the more substantial obstacle of the 50-day EMA near $80,099. To temper the bearish outlook, Bitcoin would need a daily close above the 100-day EMA. Conversely, a sustained return below the 200-day EMA would clear the way for a further pullback.

Ethereum technical analysis: ETH holds its lower support

Having fallen beneath all its key moving averages, Ethereum remains in a bearish phase at $2,257. The closest overhead barrier is the 200-day EMA at $2,307. Beyond that sit the previously broken rising trendline at $2,341 and the 100-day EMA at $2,351, a combination suggesting that rebounds are likely to encounter selling.

Broader resistance is reinforced by the 50-day EMA at $2,410 and the SuperTrend line at $2,475. At 33, the Relative Strength Index (RSI) indicates weak momentum just above oversold territory. Although the MACD histogram remains negative, it is narrowing, suggesting that the decline is losing pace rather than reversing.

An initial recovery would face the 200-day EMA near $2,307, before encountering the broken ascending trendline around $2,341 and the 100-day EMA near $2,351. Higher still, the 50-day EMA at roughly $2,410 stands ahead of a more significant supply area at the SuperTrend line around $2,475. Sellers could regain control there if the price stages a larger corrective rebound. On the downside, the supplied dataset identifies no nearby support levels, leaving ETH exposed to additional losses. Traders may therefore wait for price action to establish fresh horizontal support before anticipating a more lasting recovery.

Crypto Finance also noted: "BTC is now firmly trading below its 50-day EMA and is testing the key $76,400 area. The area at $78,800 is the first meaningful resistance, while a break lower would bring $73,700 into focus as the next support,"

Technical analysis: XRP retains a pronounced bearish bias

Trading above $1.25, XRP is continuing its retreat below a tightly grouped set of moving-average and trendline resistance levels. The price is now firmly beneath the 50-day EMA at $1.34, the 100-day EMA at $1.32 and the 200-day EMA at $1.36, indicating a shift towards a bearish broader outlook. It also remains capped below the broken descending resistance trendline at $1.29.

Persistent selling pressure is underlined by the SuperTrend indicator at $1.39, well above the spot price. The RSI, at approximately 37, likewise signals subdued momentum, though not outright oversold conditions.

The former trendline break region around $1.29 provides the first resistance, ahead of the 100-day EMA at $1.32 and the 50-day EMA at $1.34. Beyond those, a wider supply zone is defined by the 200-day EMA at $1.36 and the SuperTrend line at $1.39. A decisive recovery above that zone would be necessary to relieve the prevailing bearish tone. Below the current price, the daily chart identifies no clear technical support. Further losses would therefore leave XRP searching for fresh demand areas on shorter timeframes or at earlier swing lows not shown here.

(The technical analysis of this story was written with the help of an AI tool. Know more.)