Crypto Majors Under Pressure as ETF Outflows Grow

Key Moments

ETF Flows Underscore Institutional Risk-Off Mood

Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP) traded lower on Friday, prolonging a steady drawdown of about 15% over the week. The weakness has been closely tied to persistent selling pressure from institutional products tracking BTC and ETH, while XRP has largely mirrored the broader market direction.

Exchange Traded Funds (ETFs) focused on Bitcoin and Ethereum continued their extended sequences of redemptions, reaching 14 consecutive sessions of outflows for BTC products and 18 for ETH products. According to CoinGlass data, BTC ETFs registered $396.60 million in net outflows on Thursday, and ETH ETFs saw $52.94 million leave over the same period. This sustained institutional reduction has reinforced a bearish tone across the crypto complex.

In contrast, XRP ETFs showed signs of stabilization. Following $5.34 million in outflows on Wednesday, these products recorded $3.83 million in inflows, hinting at relatively stronger institutional interest when compared with BTC and ETH.

Bitcoin Technical View: Focus on $60,000 Floor

Bitcoin traded slightly below $63,000 at press time on Friday, extending a six-session losing streak. The coin recently broke below a previous rising trendline, which now acts as resistance near $71,675. BTC also remains firmly under its 50-, 100-, and 200-day Exponential Moving Averages (EMAs), which are grouped in a band from around $74,300 to $81,455, highlighting a heavy ceiling on the upside in the near term.

Momentum gauges remain weak. On the daily chart, the Relative Strength Index (RSI) is deeply oversold at approximately 17, while the Moving Average Convergence Divergence (MACD) continues to push deeper into negative territory, reflecting an expanding bearish structure. Together, these indicators point to ongoing downside pressure even as oversold conditions raise the possibility of short-lived corrective rebounds.

On the downside, the key area to monitor is horizontal support at $60,000. A clear move below this level would leave BTC vulnerable to a more pronounced decline. Conversely, a successful defense of $60,000 could set the stage for an oversold bounce toward the overhead resistance band defined by the clustered EMAs and the former trendline.

On the upside, the first barrier for buyers appears near $65,000, a former support level that has now turned into resistance. Above that, the broken uptrend line around $71,675 represents the next technical hurdle.

Ethereum Outlook: Vulnerable Below Key Moving Averages

Ethereum traded about 2% lower at the time of writing on Friday, sustaining a bearish tone during a six-day slide. The leading altcoin is holding well below the 50-day EMA near $2,116 and the 100-day EMA around $2,223, underscoring a sizeable supply zone above current prices.

Daily momentum indicators corroborate this negative setup. The RSI stands at around 17, indicating oversold conditions, while the MACD remains below its signal line with the zero line firmly in negative territory. This configuration suggests that downward pressure still dominates even though sharp, short-term relief rallies cannot be ruled out.

On the downside, a decisive break under the February 6 low at $1,747 would leave ETH exposed to additional weakness. Below that, potential support levels include $1,689 and $1,538, which correspond to the April 9, 2025 high and the April 16, 2025 low, respectively.

On the upside, the first notable resistance is seen at $1,835, the former support from February 28 that has now turned into resistance. Above that, the broken rising trendline near $2,070 is the next important level that bulls would need to reclaim to ease the prevailing bearish tone.

Ripple Price Action: Downside Risk Toward $1.00

Ripple extended its losing streak to six sessions on Friday, trading more than 2% lower and approaching the February 6 low at $1.1179. A daily close beneath that level would mark the weakest reading since November 21, 2024, and could clear the way for a move toward the psychologically important $1.00 level, last reached on November 17, 2024.

XRP continues to exhibit a clearly bearish pattern, with price trading well below key EMAs, leaving a strong cap on rallies. Momentum also remains under strain: the MACD is deeply negative with a strengthening bearish configuration, and the RSI is oversold near 22. This indicates that selling may be stretched, but there is not yet a confirmed sign of a trend reversal.

On the upside, the initial resistance area is located in the $1.2543-$1.2700 band, where a previous supply zone has flipped into resistance. Above that, the 50-day EMA, currently around $1.3520, is the next technical barrier.