Crypto Market Remains Under Pressure as Risk-Off Sentiment Persists

The crypto market remains under pressure as risk-off sentiment persists, weighing down assets such as Bitcoin, Ethereum, and XRP. Bitcoin edges lower towards its $63,000 short-term support after continued ETF outflows, with investors pricing in a 64% probability of the Federal Reserve holding interest rates steady on Wednesday. Ethereum extends its decline below $1,900 as focus shifts to the Fed's decision, while XRP risks extending its sell-off below the critical $1.00 support despite mild ETF inflows.

The Crypto Fear & Greed Index holds at 29, indicating a fragile market condition and weak risk-off sentiment. Institutional withdrawals from Bitcoin spot Exchange-Traded Funds (ETFs) approach $12 million on Monday, undermining risk exposure. Ethereum spot ETFs outpaced Bitcoin with inflows of around $9 million on Monday, following Friday's $71 million in outflows.

Technical analysis suggests that Bitcoin remains bearish, trading below a dense pack of moving averages and momentum gauges. Ethereum holds above its short-term 50-day EMA at $1,841, but faces renewed headwinds with mixed momentum. XRP trades decisively below the Bollinger Band's middle layer at $1.10, suggesting downside pressure.