• Bitcoin price extends its correction, slipping below $91,000 on Tuesday amid rising geopolitical tensions over Greenland.
• Ethereum trades in red around $3,100, slipping below the 50-day EMA and keeping downside risks intact.
• XRP is sliding below its daily support at $1.96, risking a deeper correction.

Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP) prices are extending their losses on Tuesday as risk-on sentiment fades amid rising geopolitical tensions over Greenland.

US President Donald Trump posted on his Truth Social account on Tuesday that he had spoken with Mark Rutte, the Secretary General of the North Atlantic Treaty Organization (NATO), regarding Greenland. Trump explained that Greenland is “imperative for national and world security” and confirmed plans for discussions involving multiple parties at the upcoming World Economic Forum in Davos, Switzerland. 

These developments further intensified uncertainty and triggered a risk-off sentiment among traders, which does not bode well for risky assets.

Chart of the day: Bitcoin momentum indicators flash early bearish signals

Bitcoin price failed to hold above the 100-day Exponential Moving Average (EMA) at $95,787 on Thursday and corrected by 3.35% over the next four days, retesting the 50-day Exponential Moving Average (EMA) at $92,348 on Monday. As of writing, BTC is trading down, slipping below the 50-day EMA and nearing the next immediate support at $90,000.

If BTC fails to find support around the $90,000 (previously broken upper consolidation zone), it could extend the decline toward the lower consolidation boundary at $85,569, which coincides with the 78.60% Fibonacci retracement level (from the April low of $74,508 to October’s all-time high of $126,199).

The Relative Strength Index (RSI) on the daily chart is 47, slipping below the neutral 50 level, indicating bearish momentum is gaining traction. The Moving Average Convergence Divergence (MACD) indicator also showed a bearish crossover on Tuesday, further supporting the downward view.

On the other side, if BTC recovers, it could extend the advance toward the 61.8% Fibonacci retracement level at $94,253.

Altcoins update: Ethereum and XRP bears are in control of momentum

Ethereum price was rejected from the 200-day EMA at $3,334 on Thursday and declined nearly 5% through Monday, retesting the 50-day EMA at $3,163. At the time of writing, ETH is trading down, slipping below the 50-day EMA.

If ETH closes below the 50-day EMA at $3,163 on a daily basis, it could extend the decline toward the daily support at $3,017.

The RSI on the daily chart reads 46, slipping below the neutral 50 level, indicating bearish momentum is gaining traction. The MACD indicator also flagged a sell signal on Tuesday, further supporting the bearish view.

On the other hand, if ETH recovers, it could extend the advance toward the 200-day EMA at $3,334.

XRP price faced rejection from the 50-day EMA at $2.06 on Friday and kept declining the following days. At the present time, XRP is trading below the daily support at $1.96.

If XRP continues its correction and closes below the daily support at $1.96, it could extend the decline toward the December 19 low of $1.77.

The RSI on the daily chart reads 41, below the neutral level of 50, indicating bearish momentum gaining traction. The MACD also showed a bearish crossover on Friday, further supporting the negative outlook.

However, if XRP recovers, it could extend the advance toward the 50-day EMA at $2.06.