Bitcoin Updates: XRP ETFs See Increased Investments While Price Drops Close to $2 During Bitcoin Outflow
- Bitcoin fell below $90,000, triggering $866M in ETF redemptions and heightened volatility across crypto markets. - XRP clings to $2 support amid mixed signals: $58.6M inflows into new XRPC ETF contrast with $28M in 24-hour liquidations. - Technical indicators show extreme oversold conditions for XRP, with 41.5% of circulating supply at unrealized losses. - Institutional moves like Harvard's $443M Bitcoin bet highlight crypto's evolving role despite macro-driven selloffs.
Bitcoin's steep fall beneath $90,000 has sparked a wave of institutional withdrawals and heightened volatility throughout the cryptocurrency sector, with
This market upheaval is part of a broader risk-off movement. Over the past three weeks, Bitcoin ETF redemptions have reached $2.6 billion, with Grayscale's Bitcoin Mini Trust and BlackRock's
The introduction of the XRPC ETF has yet to restore confidence. While
Bitcoin's technical indicators remain negative. The cryptocurrency is now trading below important moving averages,
Opinions are split on whether the current downturn marks a final capitulation or signals a longer period of sideways movement. The $866 million withdrawn from Bitcoin ETFs, though substantial, accounts for only 3% of total assets under management
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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