Crypto Markets Hold Steady as Bitcoin and Ethereum Defy Gravity

Crypto markets are holding steady despite recent struggles following last week's rally. Bitcoin (BTC) is trading above $83,000, a level that bulls must defend to restore its uptrend toward the September peak of $87,000.

Ethereum (ETH), on the other hand, remains below key levels of $2,700 on the upside and $2,600 on the downside. Ripple (XRP) is trading near $1.50, a level that could allow bulls to build momentum for its next breakout attempt targeting September highs at $1.66 and August peak of $1.70.

K33 Research analysts point out that the drop in Open Interest (OI) to 49,000 BTC implies reduced sell-side pressure amid low probability of liquidations. They also note that spot volumes are below yearly averages despite higher prices, indicating sustained sell-side exhaustion.