BTC, ETH, and XRP Struggle to Regain Momentum Amid ETF Outflows
Bitcoin (BTC) and Ethereum (ETH) are struggling to regain momentum as they trade in a narrow range. BTC is stuck between $82,500 and $85,000, while ETH remains below $2,700 with $2,600 providing support.
Ripple (XRP) has slipped below the pivotal $1.50 level, suggesting headwinds are intensifying and reducing the odds of a stable recovery.
Bitcoin Spot Exchange-Traded Funds (ETFs) recorded an outflow of $149 million on Wednesday, bringing cumulative inflows to roughly $58 billion. This could signal buyer exhaustion despite the Fear & Greed Index holding firmly in the Greed territory.
Ethereum spot ETFs also recorded outflows, totaling $60 million on Wednesday, up from minor drawings of $3 million on Tuesday. Cumulative inflows total $14 billion with net assets under management at $18 billion.