Digital Assets Stumble as Bitcoin Retreats Below $80,000
Bitcoin has retreated below $80,000 for the second time this week, and Ethereum and XRP are mirroring its cooling trend. Despite a second attempt to break resistance between $81,000 and $82,000, Bitcoin's price has dropped back down. A daily close below $80,000 could increase the likelihood of an extended correction in search of liquidity.
Ethereum has slid to $2,500 and XRP is falling towards its $1.40 support level. However, institutional interest in digital risk assets remains high, suggesting a possible shift from a bearish to a broader bullish trend.
According to Crypto Finance AG, pullbacks have been contained, ETF inflows remain strong, and positioning suggests many investors are still catching up rather than taking risk off. Bitcoin spot Exchange-Traded Funds (ETFs) recorded $1.13 billion in inflows through Thursday, the second consecutive week of inflows.
Ethereum spot ETFs showed $722 million in inflows through Thursday, while US-listed XRP spot ETFs marked their eighth straight day of inflows with roughly $18 million on Thursday.