Crypto Today: Net ETF inflows fail to prevent declines in Bitcoin, Ethereum and XRP

• ETF inflows of $528 million prove insufficient to offset selling pressure, leaving Bitcoin falling towards the $80,000-$82,000 support zone.
• Renewed ETF inflows fail to prevent Ethereum retreating towards $2,400 as sellers return in a bid to dictate the trend.
• A renewed bearish push takes XRP beneath its 100-day EMA, with sellers targeting lows below $1.30.

Following a test of support near $80,000, Bitcoin’s early-week recovery attempts stalled at the $84,000 barrier. With buyers losing momentum, Bitcoin (BTC) is trading around $82,000 on Thursday, heading a wider cryptocurrency market correction.

A retreat towards $2,400 leaves Ethereum (ETH) reflecting Bitcoin’s weaker outlook. Ripple’s (XRP) move down towards $1.30 also underlines the broadly fragile technical picture, increasing the likelihood that the sell-off will persist.

ETF inflows continue despite market headwinds

Wednesday brought approximately $528 million of inflows into Bitcoin spot Exchange-Traded Funds (ETFs), compared with $23 million on Tuesday. The uptake this week indicates that demand for digital asset investment products remains strong despite market volatility. Cumulative inflows reached $1 billion through Wednesday, providing some cushioning against selling pressure.

Inflows into Ethereum spot ETFs reached $15 million on Wednesday, marking a modest reversal after five consecutive days of outflows. Withdrawals had amounted to $26 million on the previous day and $105 million on Monday. SoSoValue puts outflows across October at approximately $1 billion.

Muted trading, withdrawals and modest inflows continue to characterise a volatile market for XRP spot ETFs. After two consecutive days of subdued activity, Wednesday recorded inflows of approximately $709,000. Sustained inflows over the coming weeks could relieve wider selling pressure and give XRP room to consolidate before another attempt at recovery.

Technical analysis: Bitcoin retreats under mounting selling pressure

Increasing overhead pressure across the wider crypto market has pushed Bitcoin lower towards $82,000. Nevertheless, BTC retains a constructive bullish bias during the correction: it remains comfortably above its key Exponential Moving Averages, with further dynamic support provided by the SuperTrend line at about $79,664.

Momentum indicators present a more subdued picture. The Relative Strength Index (RSI) is close to 48, while the Moving Average Convergence Divergence (MACD) remains below zero. Together, they suggest that upward impulses are fading, although the broader structure continues to find support.

The first support level lies around $80,863 at the 50-day EMA. A daily close beneath it would bring the SuperTrend area near $79,664 into focus as the next demand zone. Further losses could put the 100-day EMA at roughly $77,453 in view, followed by the longer-term 200-day EMA near $76,163, where buyers would be expected to protect the broader bullish structure. While the price remains above this cluster of moving averages, declines are likely to be viewed as corrections within the established uptrend.

Altcoin technical outlook: Ethereum and XRP sellers battle to keep control

With Ethereum drifting towards $2,400 between its key moving averages, the short-term bias remains neutral to slightly bearish. Medium-term support is evident in its position above the 100-day and 200-day EMAs, at roughly $2,365 and $2,318 respectively. However, the 50-day EMA near $2,479 and the SuperTrend line around $2,676 continue to cap the price.

Buying pressure remains limited, as indicated by an RSI reading near 40. Meanwhile, the MACD is still negative but shows only a shallow bearish profile, suggesting that downward momentum is easing rather than signalling a decisive bullish reversal.

A rebound would first encounter resistance around $2,479 at the 50-day EMA. The SuperTrend line near $2,676 presents a firmer obstacle, where sellers are likely to return if the price attempts to recover. Immediate downside support lies at about $2,364 on the 100-day EMA, ahead of the 200-day EMA near $2,318. Closing below this area on a daily basis would strengthen the bearish picture and leave scope for a deeper correction. Holding above it, by contrast, would keep ETH consolidating within its broader uptrend.

Trading around $1.33, XRP remains beneath its major moving averages, leaving the near-term outlook bearish. The closest overhead barrier is the 100-day EMA at $1.34, followed by the 50-day EMA at $1.37 and the 200-day EMA at $1.38. Their alignment with the broader descending trendline structure suggests that rallies remain susceptible to renewed selling.

An RSI close to 43 and a marginally negative MACD point to muted momentum. Recovery attempts may therefore face difficulties for as long as the price stays below this group of averages.

The first hurdle on the upside is around $1.34 at the 100-day EMA. Beyond it lies a denser supply zone, bounded by the 50-day EMA at roughly $1.37 and the 200-day EMA near $1.38, with the broader downtrend line likely to exert additional pressure. Further away, the SuperTrend indicator at $1.47 defines a bearish trigger zone. Reclaiming that level would be necessary to make the case for a lasting move away from the prevailing downward bias.

(The technical analysis of this story was written with the help of an AI tool. Know more.)