Last Updated on 09/10/2026
- Bitcoin drops below $83,000 as the broader crypto market sell-off deepens amid increasing ETF outflows.
- Ethereum remains under pressure as persistent capital withdrawals and deteriorating technical indicators weigh on its price outlook.
- XRP tests the support zone formed by its 50-day and 200-day EMAs as bearish momentum spreads across the cryptocurrency market.
Bitcoin (BTC) extended its decline below $83,000 on Thursday as selling pressure intensified across the cryptocurrency market. Major altcoins followed the downward move, with Ethereum (ETH) falling below $2,600 and XRP testing support around $1.40 as investor demand weakened.
Bitcoin and Ethereum ETFs Face Renewed Outflows
Bitcoin spot exchange-traded funds (ETFs) recorded $487 million in outflows on Wednesday, highlighting a renewed pullback in institutional demand. Despite the withdrawals, market sentiment remained in positive territory, with the Crypto Fear & Greed Index falling to 64 on Thursday from 71 a day earlier, remaining within the Greed zone.
If investor appetite holds up, the market could enter a consolidation phase before attempting another recovery. However, persistent ETF outflows and unfavorable macroeconomic conditions could continue to limit upside momentum.
Ethereum spot ETFs also extended their losing streak to seven consecutive sessions, recording $161 million in outflows on Wednesday. Cumulative flows turned to approximately $413 million in net inflows for the week through Thursday, suggesting that US-listed products could be heading toward a second consecutive week of net outflows. Continued withdrawals would add pressure to ETH and increase the risk of a deeper correction.
Meanwhile, XRP spot ETFs showed subdued activity, with little movement on Wednesday following $3 million in outflows on Tuesday. Weakening demand for XRP-related investment products suggests that the token could remain vulnerable to further downside in the near term.
According to XYO co-founder Markus Levin, strong ETF demand alone may not be enough to sustain Bitcoin’s rally when the US dollar and Treasury yields are moving against the market. He noted that falling yields combined with renewed ETF inflows could help BTC regain momentum toward $90,000 and potentially $100,000.
Bitcoin Technical Analysis: BTC Extends Losses Below $83,000
Bitcoin continued to decline for a fourth consecutive day, slipping below the $83,000 level as bullish momentum weakened. Nevertheless, the broader technical structure remains constructive, with BTC trading above its 50-day, 100-day and 200-day Exponential Moving Averages (EMAs).
The SuperTrend indicator, positioned near $79,664, provides another potential support level. Momentum indicators, however, present a mixed picture. The Moving Average Convergence Divergence (MACD) remains in negative territory, while the Relative Strength Index (RSI) hovers around 51, suggesting that momentum has softened without confirming a decisive reversal of the broader trend.
On the downside, the $83,000 area represents an immediate reference point. Below it, the 50-day EMA near $79,702 and the SuperTrend level around $79,664 form an important support zone. A sustained break beneath this cluster could expose the 100-day EMA at $75,855, followed by the 200-day EMA near $75,189.
These lower levels could attract renewed buying interest if the broader bullish structure remains intact. However, continued selling pressure could increase the likelihood of a deeper correction.
Ethereum Technical Outlook: ETH Tests Key Support
Ethereum traded near $2,560 as buyers attempted to stabilize prices following losses throughout the week. Despite the recent weakness, ETH remains above its 50-day, 100-day and 200-day EMAs, indicating that its broader bullish structure has not yet been invalidated.
The 50-day EMA near $2,505 represents the first major support level, followed by the SuperTrend indicator around $2,478. A decisive move below this zone would expose the 100-day EMA at $2,339 and the 200-day EMA near $2,295.
Momentum indicators suggest that the recovery is losing strength. The RSI has fallen to approximately 44, while the MACD remains deeply negative, signaling persistent bearish pressure in the short term.
With clearly defined overhead resistance levels limited on the daily chart, ETH’s next move may depend heavily on broader market sentiment, ETF flows and whether buyers can defend the current support zone. A sustained recovery would help stabilize the outlook, whereas a breakdown below support could accelerate selling.
XRP Technical Outlook: $1.40 Support Comes Into Focus
XRP traded around $1.41 as selling pressure spread across the altcoin market. Despite the pullback, the token remained above its short-, medium- and long-term EMAs, preserving a cautiously constructive broader technical structure.
Momentum indicators, however, point to weakening bullish conviction. The MACD line remains below its signal line, with both hovering around the zero level and the histogram slightly negative. Meanwhile, the RSI near 45 suggests that momentum has cooled and the market may be entering a consolidation phase.
The immediate support level stands near $1.40, where the 50-day EMA is positioned. Below this area, the 200-day EMA around $1.38 represents the next potential defense, followed by the 100-day EMA near $1.34. The SuperTrend baseline around $1.30 provides a deeper support reference.
On the upside, XRP faces resistance from a descending trendline originating near $1.70. A decisive daily close above this barrier could strengthen the recovery outlook and encourage additional buying interest. Conversely, failure to overcome resistance, combined with a break below the $1.40 support zone, could expose XRP to a deeper corrective move.
Market Outlook
Bitcoin, Ethereum and XRP are facing renewed selling pressure as ETF outflows weaken demand across the cryptocurrency market. Although all three assets retain elements of a constructive longer-term technical structure, their short-term momentum has deteriorated.
Bitcoin’s ability to defend the $79,700 support cluster, Ethereum’s response around $2,500 and XRP’s performance near $1.40 will be important in determining whether the current decline develops into a deeper correction or gives way to renewed consolidation. ETF flows, the US dollar and Treasury yields are likely to remain key drivers of market direction.
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