Crypto Today: Bottom signals remain unclear as Bitcoin, Ethereum, XRP face selling pressure

• $73,000 is Bitcoin’s lower support area under test on Thursday. Persistent ETF outflows accompany the decline.
• Above $2,000, Ethereum spot prices face mounting seller control as institutional capital continues to exit.
• Below $1.00 remains a downside risk for XRP as weakening momentum indicators increase the threat of further losses.

$73,000 is the key support area Bitcoin (BTC) is approaching in Thursday’s correction. Major altcoins Ethereum (ETH) and Ripple (XRP) trade alongside it. ETH, the smart contract token, remains above its $2,000 demand zone. Technical weakness persists in remittance token XRP, increasing the likelihood of a correction below $1.00.

Over the past few weeks, demand for cryptocurrencies and related assets has weakened substantially. Macroeconomic uncertainty and risk aversion following the Binance hack, which affected roughly $6.3 billion, have weighed on appetite.

The Fear & Greed Index reads 28 on Thursday, placing it in Fear territory. That is only marginally below the previous day’s 29 and is consistent with the market’s wider risk-averse mood.

Crypto ETFs continue to lose capital

Approximately $300 million left Bitcoin spot Exchange-Traded Funds (ETFs) on Wednesday, SoSoValue data show. The withdrawals extended the bearish run to five days, trimming cumulative inflows to $55.1 billion. Net assets under management average $93.7 billion. Continued outflows are likely to keep prices under pressure and leave sellers in control.

In Tuesday’s ‘Ahead of the Curve’ report, K33 Research said: “Volumes remain below levels observed during previous price expansions and market bottoms, suggesting limited buying interest as BTC trades near two-month lows,”

Withdrawals from Ethereum spot ETFs climbed to $145 million on Wednesday from just $1.3 million the day before. A fifth consecutive day of outflows left cumulative inflows at $11.6 billion and net assets at $11.7 billion.

Wednesday brought little activity in XRP spot ETFs. This followed two successive sessions of withdrawals: $7.6 million on Tuesday and $10.4 million on Monday. Net assets stand at $1.2 billion, while cumulative inflows average $1.8 billion.

$73,561 Bitcoin: selling pressure builds in technical outlook

At $73,561, Bitcoin retains a bearish short-term outlook. It trades below the 50-day, 100-day and 200-day Exponential Moving Averages (EMAs), positioned at $78,695, $77,411 and 7$6,736, respectively. With the SuperTrend line also far above spot at $80,128, several layers of trend resistance continue to constrain prices.

A Relative Strength Index (RSI) reading of 34 leaves momentum weak and only slightly above oversold territory. The Moving Average Convergence Divergence (MACD) is also negative. Together, these signals suggest selling pressure still predominates, although brief relief rallies remain possible.

The first upside obstacle is the 200-day EMA near $76,736. Beyond it sit the 100-day EMA at $77,411 and the 50-day EMA around $78,695. Buyers would need to retake this dense resistance band to soften the bearish backdrop. Further up, the $80,128 SuperTrend level represents a broader structural barrier. A sustained move above it would be needed to signal that BTC is leaving its current corrective phase.

$2,000 support holds: Ethereum technical outlook

At $2,047, Ethereum continues to retreat beneath all major moving averages, maintaining a bearish near-term outlook. Above the market, the 200-day EMA near $2,296 and the 100-day EMA around $2,321 form part of a concentrated supply zone. The SuperTrend line at roughly $2,322 and the 50-day EMA close to $2,335 add to that resistance.

With its latest reading negative, the MACD remains below zero, underscoring subdued momentum. Meanwhile, an RSI around 29 points to oversold conditions. These could slow the decline, but do not yet suggest a reversal.

The former rising trendline’s break point near $2,240 provides the first resistance, followed by the 200-day EMA at $2,296. The next barrier is tighter: the 100-day EMA at $2,321 sits alongside the SuperTrend at $2,322. Above them is the 50-day EMA at $2,335, which limits the scope for a medium-term recovery while prices stay below it.

The daily chart offers no clearly defined structural support levels. To relieve immediate selling pressure, ETH would first need to recover the $2,240-$2,296 zone. That would clear the path for a more durable rebound towards the cluster of daily averages.

$1.00 in focus as XRP’s technical decline continues

At $1.04, XRP remains in a bearish phase, trading well beneath its 50-day, 100-day and 200-day EMAs at $1.27, $1.29 and $1.34, respectively. The recent breach of the descending trendline’s key level near $1.27 continues to restrict the pair, keeping the downtrend intact. Another overhead supply level comes from the SuperTrend at $1.21.

The MACD remains below zero, with both its signal line and histogram in negative territory. Meanwhile, the RSI has slipped into oversold territory around 23. Momentum therefore points to intense selling pressure, though a brief rebound cannot be excluded.

The SuperTrend around $1.21 is the first resistance level. Next comes a concentration of technical obstacles in the $1.27-$1.27 zone, where the 50-day EMA intersects the broken descending trendline. Further above, the 100-day EMA at $1.29 and the 200-day EMA near $1.34 are broader levels that buyers would need to recover to temper the prevailing bearish outlook.

No significant support is evident near current prices on the daily chart. The pair consequently remains exposed to further losses unless the oversold RSI prompts a corrective rebound towards the resistance band outlined above.

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