#news

ey TakeawaysBitcoin unable to reclaim $89K as miner selling weighs on sentimentEthereum hovers below $3K, pressured by institutional losses, founder wallet activity, and technical weakness.Major altcoins like XRP and SUI drop 1-2%, hit by support breakdowns and extreme fear in the market Crypto prices moved broadly lower today as Bitcoin, Ethereum, and XRP all faced pressure from deteriorating derivatives conditions, heavy institutional rebalancing, and surging risk-off sentiment across digital assets.Bitcoin Weakens As Miner Selling Mount, But ETF Inflows ImproveMiners offloaded 1,850 BTC (≈$172M) after Bitcoin rejected $115K, the largest single-day miner distribution in six weeks.This forced additional liquidity pressure.Source: Lookonchain on XHowever, slight optimism may be returning to the market as ETF inflows over the past day improve. According to data from Lookonchain, today, Bitcoin ETFs saw a net inflow of 1915 BTC. Technical Indicators Turn NegativeBTC slipped under the 38.2% Fibonacci retracement at $88.3K and 30-day SMA at $99.6K, triggering algorithmic selling.Key signals:RSI: 31 → deepening weakness while not yet signaling reversalMACD divergence → bearish momentum intact200-day EMA: $106.4K → major overhead barrierBitcoin’s moving averages also remain positioned above spot price:All of the EMAs are currently indicating persistent downward pressure.Bitcoin Key Level To WatchThe 50% Fibonacci level at $74K is the critical line that may determine whether BTC stabilizes or risks further downside. Ethereum Remains Below $3K Technical Weaknesses BuildEthereum slipped 0.52% to $2,914, trailing Bitcoin’s modest uptick and continuing a –30% 30-day decline.ETH’s weakness reflects institutional concerns, founder wallet movements, and a structurally bearish technical setup. Institutional Losses Fuel Fears Of Forced SellingMajor ETH holder BitMine Immersion Technologies (BMNR)—holding 3.63M ETH (≈3% of supply)—is facing more than $4B in unrealized losses after its stock crashed 81% from 2025 highs.Market worries center on whether BMNR may liquidate portions of its holdings, recreating prior cycle’s corporate-led sell cascades.Founder Wallet Activity Adds To Market AnxietyVitalik Buterin transferred 1,009 ETH ($2.94M) between wallets, according to Lookonchain data.Source: Lookonchain on XAlthough not an exchange deposit, such movements often trigger retail panic, especially with the Fear & Greed Index at 15 (Extreme Fear).Technical Indicators Signal Continued WeaknessETH trades below key higher-timeframe levels:Source: TradingViewOscillators also highlight deteriorating momentum:RSI: 38 → weakness with room for deeper downsideMACD histogram: +2.32 but below signal → momentum remains fragileRange: $2,862–$2,973 → a key battleground for short-term directionA breakdown below $2,862 risks a sharper move toward $2,626, the June 2025 low.Ethereum Key Level To WatchETH must hold $2,862 and reclaim $3,116 (20-day EMA) to shift momentum back toward recovery. Altcoins: XRP Slides 2% As Long Liquidations And Support Failure Trigger Sell-OffXRP, one of the largest altcoins by market cap, also underperformed the market, falling 2.17% in 24 hours as leveraged liquidations, a technical breakdown, and collapsing sentiment pressured the asset.Leveraged Liquidations Create Domino EffectBefore the decline, Binance’s XRP long/short ratio was a stretched 2.55:1, illustrating high-confidence long positioning.When price dropped below $2.20, it triggered:$1.14M in long liquidations in 12 hoursNegative derivatives funding (–0.001863%)A cascade of forced sellingTechnical Breakdown Triggers Algorithmic SellingXRP breached the $2.15–$2.20 support zone, which included the 61.8% Fibonacci level and a major pivot point.Attempts to retest the 4H 50EMA at $2.27 failed, strengthening downward pressure.Despite the drop:RSI: 47 → shows XRP is not yet oversold30-day SMA: $2.26 → the level needed for early recovery signsXRP Key Level To WatchXRP must reclaim $2.26 to stabilize.If selling resumes, the 78.6% Fibonacci level at $2.02 becomes the next major support to monitor. Bottom Line: Why Crypto Is Down TodayCrypto markets are sliding due to a combination of institutional outflows, derivatives stress, technical breakdowns, and intense risk-off sentiment:Bitcoin faces strong headwinds from ETF redemptions and miner sellingEthereum is impacted by institutional distress and structurally bearish chartsXRP absorbed the heaviest losses as leveraged positions unwound rapidly