Bitcoin Holds Steady at $83K as Ethereum Struggles Below $2.7K

Bitcoin's price holds steady at around $83,000 as momentum indicators show weakness. Ethereum continues to struggle below $2,700, while XRP hovers near the pivotal level of $1.50.

The broader market structure remains positive despite the current struggles, according to K33 Research analysts. They note that the drop in Open Interest (OI) to 49,000 BTC implies reduced sell-side pressure and a low probability of liquidations.

Technical analysis shows that Bitcoin trades above $83,000, extending a constructive bullish bias as price holds well above key moving averages. However, momentum indicators suggest that upside momentum is losing steam.

Ethereum faces buyer exhaustion, while XRP eyes recovery after trading near the pivotal level of $1.50. The pair remains technically supported as long as it trades above clustered moving average supports.