BTC, ETH, XRP Struggle to Regain Momentum Amid Intensifying Headwinds

Bitcoin (BTC) and Ethereum (ETH) are struggling to regain momentum as they trade within a narrow range. BTC is stuck between $82,500 and $85,000, while ETH remains below $2,700. Ripple (XRP) has slipped below $1.50, suggesting headwinds are intensifying.

Bitcoin Spot Exchange-Traded Funds (ETFs) recorded their first outflow after nine straight days of inflows, with institutions withdrawing $149 million on Wednesday. This is a potential sign of buyer exhaustion, despite the Fear & Greed Index holding firmly in the Greed territory.

Ethereum spot ETFs also recorded outflows, totaling $60 million on Wednesday, which is a significant increase from the minor drawings of $3 million on Tuesday. The cumulative inflows total $14 billion, with net assets under management at $18 billion.

XRP, US-listed spot ETFs, remained muted on Wednesday and Tuesday after five consecutive days of inflows. With cumulative inflows near a record $1.8 billion and net assets at $1.7 billion, investors appear to maintain a long-term positive outlook on XRP.