Crypto Prices Pull Back as Sellers Return to Market

Cryptocurrency prices have taken a step back on Monday, with Bitcoin (BTC) hovering below $83,000. Ethereum (ETH) and Ripple (XRP) are also experiencing weakness, as sellers return and drive prices lower.

Despite the pullback, analysts point to a near-term bullish outlook for both Bitcoin and Ethereum, thanks in part to strong institutional demand for cryptocurrency spot Exchange-Traded Funds (ETFs). Last week saw inflows of $2.4 billion into these funds, with cumulative inflows nearing $58 billion.

Looking at the technical analysis, BTC's price remains well above its 50-day, 100-day, and 200-day Exponential Moving Averages (EMAs), suggesting a well-supported uptrend. Immediate support for Bitcoin is found around $83,000, with deeper pullbacks likely targeting the broader dynamic base defined by the 200-day EMA at $74,242 and the 100-day EMA at $73,920.

For Ethereum and XRP, analysts point to a constructive bullish bias, despite the current correction. The stacked EMA configuration on the daily chart hints at a supportive underlying trend for both assets.