
Bearish sentiment deepens across Bitcoin (BTC), Ethereum (ETH) and Ripple (XRP) on Friday, prolonging the sell-off. The risk of additional losses rises as BTC slips through the psychological $70,000 mark and ETH surrenders support at $2,000. With sellers still dominating XRP, its continued decline threatens to extend the correction towards $1.00.

A bearish near-term outlook continues to weigh on Bitcoin as it moves away from its previous consolidation range, trading at $69,195 on Friday. Its decline has taken it well below the key Exponential Moving Averages (EMAs): the 200-day EMA stands at $76,291, the 100-day EMA at $77,205 and the 50-day EMA at $78,245. All three remain above the current price, strengthening the negative bias.
Oversold conditions are evident in the Relative Strength Index (RSI), which has fallen to 25. At the same time, the Moving Average Convergence Divergence (MACD) is firmly in negative territory. This points to strong downward momentum, although stretched conditions could produce short-term rebounds.
Any recovery would first encounter resistance near $76,291 at the 200-day EMA, before reaching the 100-day EMA at $77,205 and the 50-day EMA at $78,245. Together, these averages form a concentrated supply zone likely to restrict recovery attempts. Should the pair stage a stronger rebound, sellers could regain the upper hand at the higher horizontal resistance of $85,000.
The current dataset offers no significant nearby support, leaving traders to watch intraday price movements and previous swing lows for signs of possible stabilisation. Even so, the wider technical setup favours further downside while BTC remains below these major EMAs.

Ethereum's bearish phase persists, with the price at $1,987 on Friday and well below the 50-day, 100-day and 200-day EMAs, grouped between roughly $2,299 and $2,320. These overhead averages continue to constrain the pair following the loss of its earlier rising support line. The trendline breakdown area near $2,459 now represents a more distant hurdle.
Persistent downward pressure is reflected in weak momentum readings: the RSI is around 26, within oversold territory, while the MACD remains negative and below zero. Near-term selling nevertheless appears stretched.
The horizontal support near $1,823 marks the immediate structural demand zone on the downside. If the price reaches it, buyers could try to arrest the decline.
Recovery attempts would initially face the 200-day EMA around $2,299, then the 100-day EMA at $2,313 and the 50-day EMA at $2,320. This cluster creates a substantial ceiling before the psychological $2,400 mark. Further resistance lies around $2,459, where the ascending trendline was breached, and near the higher horizontal barrier of $2,770. Reclaiming these zones would be necessary to restore a more positive medium-term outlook.

A negative near-term bias continues to shape XRP's price action, with the token trading at $1.015 on Friday. It remains well below the 50-day, 100-day and 200-day EMAs, positioned at $1.263, $1.287 and $1.350 respectively. Although the sell-off appears stretched, sustained downside pressure is signalled by a MACD below zero and an RSI near 21 in oversold territory.
A rebound would encounter initial resistance at $1.160, followed by the more significant $1.300 barrier. The longer-term EMAs grouped around $1.287–$1.350 add to the broader supply zone, ahead of higher resistance levels at $1.540 and $1.900.
The horizontal floor at $1.000 provides immediate downside support. Holding above it could leave room for a corrective rebound towards the resistance levels outlined above; a decisive breach, however, would open the way to fresh lows.

(The technical analysis of this story was written with the help of an AI tool. Know more.)
Demand and adoption among market participants are influenced by token launches. When an asset is listed on crypto exchanges, its liquidity increases and new participants join its network. Such developments are generally bullish for a digital asset.
In a hack, an attacker uses exploits, bugs or other methods to seize a large quantity of an asset from a DeFi bridge, an exchange's hot wallet or another crypto platform. The stolen tokens are subsequently moved off exchange platforms, ultimately to be sold or exchanged for other cryptocurrencies or stablecoins. Widespread panic often accompanies these incidents, triggering selling in the affected assets.
Crypto assets respond to macroeconomic events, including interest rate decisions by the US Federal Reserve, primarily through their direct effect on the US Dollar. Higher interest rates generally weigh on Bitcoin and altcoin prices, while lower rates tend to have the opposite effect. A fall in the US Dollar index makes risk assets and the associated trading leverage cheaper, thereby pushing crypto prices higher.
By cutting miners' block rewards in half, halvings restrict an asset's supply and are therefore generally viewed as bullish events. With demand unchanged, a reduction in supply lifts the asset's price.