Institutional Outflows Weigh on Crypto Markets

Crypto markets are struggling to regain momentum as institutions break nine consecutive days of exchange-traded fund (ETF) inflows, resulting in $149 million in outflows. This change in market sentiment is putting pressure on Bitcoin and Ethereum's prices.

Bitcoin is currently trading below $84,000 and is stuck between support at $82,500 and resistance at $85,000. The cryptocurrency is trying to break through the upper range limit but is facing strong sell-side pressure.

Ethereum, on the other hand, is trading below $2,700 and is supported by its short-term level of $2,600. Despite this, Ethereum's price is still under pressure due to the recent outflows from ETFs.

XRP has extended its correction below $1.50, suggesting that the token is facing headwinds. The remittance token is still holding above its key EMAs but is showing signs of weakening momentum indicators.