Spot ETF outflows: Bitcoin, Ethereum and XRP struggle to stabilise | Crypto Today

• $74,000 is within reach as Bitcoin rebounds. Bulls are still struggling to re-establish control of the trend.
• At the critical $2,000 level, Ethereum remains firmly supported, although falling moving averages and the SuperTrend line constrain gains.
• Near $1.00, XRP’s decline is losing momentum. Sellers retain broad control as spot ETFs register additional outflows.

Bitcoin (BTC) is trading around $74,000. It leads a cryptocurrency market largely consolidating near key lower support levels on Wednesday. Above $2,000, Ethereum (ETH), the largest smart contract token, faces structural constraints on further gains. Ripple (XRP) is holding precariously above $1.00, with the downside still offering the path of least resistance.

$296 million in weekly outflows pressures crypto market

Tuesday’s $95 million withdrawal from Bitcoin spot Exchange-Traded Funds (ETFs) extended the run of outflows to a fourth consecutive day, reflecting continued subdued interest in digital investment products. Total outflows for the week through Tuesday have reached $296 million.

A modest $1.32 million flowed out of Ethereum spot ETFs on Tuesday, leaving cumulative inflows at $11.74 billion. According to SoSoValue data, net assets under management average $11.64 billion, highlighting institutional investors’ positive long-term view of the underlying token.

Nearly $8 million left XRP spot ETFs on Tuesday, extending withdrawals to a second consecutive day. Against cumulative outflows of $1.8 billion, net assets under management stand at $1.19 billion.

Across the wider market, the Fear & Greed Index points to weak risk appetite. Its reading fell to 29 in Fear territory on Wednesday from 32 a day earlier. United States (US) inflation pressure is another factor deterring investors from entering the market. Adding to the drag on sentiment, CME Group’s FedWatch Tool indicates a higher probability of a December interest rate increase by the Federal Reserve (Fed).

$74,061: Bitcoin retains short-term support amid bearish signals

At $74,061, Bitcoin remains decisively below its 50-day, 100-day and 200-day Exponential Moving Averages (EMAs), leaving the near-term outlook clearly bearish. Overhead, the first major dynamic resistance is the 200-day EMA at $76,412. The 100-day EMA at $77,487 and the 50-day EMA near $78,906 follow, while the SuperTrend line around $80,249 strengthens the wider resistance zone.

Despite a slowdown in immediate selling momentum, indicators still point to downside pressure. The Relative Strength Index (RSI) sits near 35, just above oversold territory, while the Moving Average Convergence Divergence (MACD) remains below zero.

To relieve immediate pressure, a recovery must first take Bitcoin back above the 200-day EMA at $76,412. Further resistance lies at the 100-day EMA around $77,487, then the 50-day EMA near $78,906, ahead of a challenge to the bearish structure marked by the SuperTrend at $80,249. The daily chart offers no clear indicator-based support levels, leaving scope for further tests lower. A daily close above at least the 200-day EMA is the minimum buyers need to begin neutralising the current bearish set-up.

$2,000 support under test: Ethereum technical outlook

At $2,065, Ethereum continues to slide well beneath its main moving averages, maintaining a firmly bearish near-term outlook. Above the price, the 200-day EMA stands at $2,301 and the 100-day EMA at $2,327. The SuperTrend line at $2,337 and the 50-day EMA at $2,347 provide additional overhead supply.

Signs of exhaustion have yet to remove the downside pressure. Momentum remains weak: the RSI is near 31, just above the oversold band, and the MACD line sits deep in negative territory.

Any rebound faces its first test around $2,234, the area of the broken rising trendline. Sustaining a recovery above that point would bring a concentrated resistance zone into play: the 200-day EMA at $2,301, the 100-day EMA at $2,327, the SuperTrend barrier at $2,337 and the 50-day EMA near $2,347.

Below these layers of resistance, ETH is likely to encounter selling on rallies. A return to lower psychological levels remains a risk, although the current dataset identifies no clear structural support.

$1.06: XRP falters as sellers strengthen control

At $1.06, XRP remains in a bearish phase, trading well beneath the 50-day, 100-day and 200-day EMAs grouped between roughly $1.28 and $1.35. The SuperTrend at $1.22 adds another overhead barrier, keeping gains constrained.

With the MACD below zero, momentum continues to signal negative pressure. The RSI reading of 24 indicates oversold conditions, which could temper further losses but have not yet produced a meaningful recovery.

The first resistance hurdle is the SuperTrend near $1.22. Beyond it sits a tight EMA cluster: the 50-day EMA at $1.28 is close to the broken downward trendline reference around $1.29 and the 100-day EMA at $1.30. A more strategic obstacle lies higher at the 200-day EMA of $1.35; reclaiming it would be necessary to reduce the broader bearish bias.

Below the current spot price, the daily chart identifies no clear technical support. The pair therefore remains exposed to further declines beneath this layered resistance zone. Only a daily close back above the $1.22-$1.30 area would begin to indicate stabilisation.

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