Bitcoin could dip to $67k amid $1.3 billion ETF outflows

Key takeaways

  • Bitcoin (BTC) trading volume surged more than 200% over 24 hours as the cryptocurrency fell toward $75,000. 
  • US spot Bitcoin ETFs recorded approximately $1.3 billion in weekly net outflows, while the Crypto Fear and Greed Index dropped to 28. 
  • Bitcoin risks extending its decline toward $71,500 and $67,000 after losing its 200-day Exponential Moving Average (EMA). 

Bitcoin (BTC) remains under heavy selling pressure as trading activity surges and investors reassess the cryptocurrency market’s outlook following the US midterm elections.

The world’s largest cryptocurrency recently fell toward $75,000, triggering a sharp increase in market activity. 

Bitcoin’s trading volume jumped more than 200% over 24 hours, reflecting heightened volatility as traders reacted to deteriorating sentiment and significant leveraged position liquidations.

Bitcoin ETF outflows reach $1.3 Billion as institutional investors retreat

Institutional demand for Bitcoin has weakened sharply, with US spot ETFs recording substantial withdrawals during the latest market correction.

According to SoSoValue, Bitcoin ETFs experienced approximately $1.3 billion in net outflows over the past week.

The outflows continued, with another $201.80 million withdrawn from the funds on Monday. 

The persistent redemptions suggest that institutional investors are becoming increasingly defensive amid regulatory uncertainty and broader cryptocurrency market weakness.

Consequently, sustained withdrawals can influence market sentiment and potentially increase selling pressure.

The latest outflows also suggest that Wall Street investors are adopting a more cautious approach toward cryptocurrency investments.

The deterioration in market sentiment is also reflected in the Crypto Fear and Greed Index.

The widely followed sentiment indicator has declined to 27, placing the cryptocurrency market firmly in Fear territory.

This represents a substantial shift from approximately 45 days earlier, when the index reached 80, indicating Extreme Greed.

The sharp reversal suggests that investors have moved from aggressive risk-taking toward a more defensive approach.

The Fear and Greed Index considers several market indicators, including volatility, momentum, trading activity, and broader investor sentiment.

Bitcoin technical outlook: BTC risks falling toward $67,000

Bitcoin’s technical outlook has weakened considerably following its recent decline toward $75,000.

The cryptocurrency briefly rebounded from the psychological support level during the latest trading session, but its broader structure remains bearish after falling below the 200-day Exponential Moving Average (EMA).

Trading below this moving average suggests that Bitcoin’s previous bullish momentum has weakened, potentially encouraging additional selling.

Momentum indicators reinforce the negative outlook. The daily Relative Strength Index (RSI) has fallen below 40, indicating deteriorating buying momentum and suggesting that sellers remain in control.

If Bitcoin fails to reclaim the $75,000 resistance level, the next important downside target lies around $71,500.

This region corresponds to a fair value gap (FVG) formed during the August rally, where previous price imbalances could attract buying interest.

A decisive breakdown below $71,500 would expose the next major support zone around $67,000. Both levels represent important technical areas that could determine whether Bitcoin stabilizes or extends its broader correction.

BTC/USD Daily Chart
BTC/USD Daily Chart

Bitcoin’s ability to hold the $71,500 and $67,000 support zones could prove critical for its near-term outlook.

A successful rebound from either zone could help stabilize sentiment and potentially encourage a recovery toward $75,000.

However, failure to hold $67,000 would represent a more significant technical setback. Such a breakdown could open the door for a deeper correction toward $60,000, a major psychological support level associated with previous market activity.

Conversely, a sustained recovery above $75,000, accompanied by stronger trading demand and improving ETF flows, would provide an early indication that selling pressure is easing.

For now, Bitcoin’s technical outlook remains bearish while BTC struggles below its 200-day EMA, with $71,500 and $67,000 emerging as the most important downside support levels.

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Ethereum risks falling to $1,970 as Buterin challenges ETH fee-burning narrative

Key takeaways

  • Ethereum (ETH) is up 1.3% on Tuesday as co-founder Vitalik Buterin sparked debate over the cryptocurrency’s long-term value proposition.
  • Bitmine Immersion Technologies acquired another 9,587 ETH, increasing its holdings to 6.07 million tokens, representing approximately 4.97% of Ethereum’s circulating supply.
  • ETH risks extending its decline toward $1,971 if the $2,101 support level fails, while resistance remains at $2,204 and $2,250.

Ethereum (ETH) has slightly recovered on Tuesday following renewed selling pressure on Monday.

The performance comes as investors weighed a debate over the cryptocurrency’s long-term value proposition following comments from co-founder Vitalik Buterin.

Vitalik Buterin questions Ethereum’s fee-burning investment narrative

Buterin argued that Ethereum’s investment appeal should rest primarily on its ability to function as a secure, decentralized store of value rather than the amount of ETH removed from circulation through transaction fee burning.

Ethereum’s fee-burning mechanism has played an important role in shaping the cryptocurrency’s investment narrative since the introduction of EIP-1559 in August 2021.

The upgrade introduced a system that permanently removes the base transaction fee from circulation, reducing the amount of ETH available in the market.

During periods of elevated network activity, transaction fee burning can exceed new token issuance, temporarily making Ethereum’s supply deflationary.

However, Buterin challenged the strength of this argument in a Sunday post on X, suggesting that investors have placed too much emphasis on fee burning as a measure of Ethereum’s economic value.

He explained that much of Ethereum’s historical transaction fee revenue originated from cryptocurrency-related activities, making it closely tied to the broader digital asset market.

Buterin further warned that prioritizing higher fee revenue could create incentives for increased transaction costs, greater protocol spending, and more interventionist governance.

Such developments could undermine the decentralization and neutrality that distinguish Ethereum from traditional financial infrastructure.

Buterin proposed that Ethereum’s long-term value should be anchored in its fundamental properties, particularly as artificial intelligence development accelerates.

He highlighted a framework known as CROPS, representing censorship and capture resistance, open source, privacy, and security.

According to Buterin, these characteristics could become increasingly important in a world where AI systems play a greater role in financial transactions and digital infrastructure.

Bitmine Ethereum holdings reach 6.07 million ETH

Bitmine Immersion Technologies announced on Monday that it acquired an additional 9,587 ETH over the previous week, increasing its total holdings to approximately 6.07 million tokens.

The company’s Ethereum treasury now represents roughly 4.97% of the cryptocurrency’s estimated circulating supply of 122.2 million ETH.

The latest purchase brings Bitmine closer to its stated objective of accumulating 5% of Ethereum’s total circulating supply.

Beyond its substantial holdings, the company reported maintaining approximately 5.227 million ETH in staking positions through its Made in America Validator Network (MAVAN).

Ethereum price forecast: ETH bears target $1,971 support

Ethereum’s technical outlook remains bearish as the cryptocurrency continues trading below its major Exponential Moving Averages (EMAs).

On the daily chart, ETH remains below its 20-day, 50-day, and 100-day EMAs, which are clustered between approximately $2,291 and $2,371.

The position beneath these moving averages suggests that sellers continue to dominate the broader market structure, with recovery attempts likely to encounter resistance.

Momentum indicators reinforce the negative outlook. The 14-day Relative Strength Index (RSI) hovers near 31, indicating weak buying momentum and suggesting that Ethereum is approaching oversold territory.

Meanwhile, the Stochastic Oscillator stands near 9, reflecting more pronounced oversold conditions.

On the downside, Ethereum faces immediate support around $2,101. A decisive breakdown below this level could accelerate the decline toward $1,971, representing the next significant support zone.

If sellers maintain control and ETH fails to stabilize around $1,971, the cryptocurrency could extend its correction toward $1,827.

ETH/USD Daily Chart
ETH/USD Daily Chart

Despite the prevailing bearish conditions, Ethereum could attempt a short-term rebound if buyers begin accumulating around current support levels.

The first significant resistance stands at $2,204, which ETH must reclaim to establish an initial improvement in momentum.

A sustained recovery above this barrier could open the door for a move toward $2,250, followed by the 20-day EMA near $2,291.

Additional resistance is concentrated around the 100-day EMA and the 2,355–2,371 region, creating a substantial overhead supply zone.

A convincing breakout above this cluster would represent a more meaningful improvement in Ethereum’s technical outlook and could indicate that selling pressure is beginning to weaken.

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Cardano whales dump 50 million tokens amid bearish sentiment

Key takeaways

  • Cardano (ADA) trades below $0.175 on Monday after declining more than 9% last week. 
  • Large Cardano whales holding between 10 million and 100 million ADA have offloaded approximately 50 million tokens since November 4, signaling weakening confidence.
  • ADA risks extending its decline toward $0.156 as bearish technical indicators persist, while immediate resistance stands at $0.183.

Cardano (ADA) remains under pressure on Monday, trading around $0.1748 after recording five consecutive weeks of losses. 

The cryptocurrency declined more than 9% last week, extending a downturn that began in early October as selling pressure continues to outweigh buying interest.

Cardano whales dump 50 million ADA tokens

Cardano’s largest investors have continued reducing their holdings, raising concerns about the cryptocurrency’s near-term price outlook.

According to Santiment’s Supply Distribution data, wallets holding between 10 million and 100 million ADA have collectively offloaded approximately 50 million tokens since November 4.

The decline suggests that this group of large holders has become increasingly cautious amid Cardano’s prolonged price weakness.

Beyond whale distribution, Cardano’s broader on-chain and trading indicators continue to reflect cautious market sentiment.

CryptoQuant’s market summary highlights significant whale orders across ADA’s spot and futures markets, accompanied by overheating conditions and sell-side dominance.

The combination suggests that large market participants remain active, but selling activity continues to outweigh buying interest.

Cardano technical outlook: ADA bears target the $0.156 support

Cardano’s technical outlook remains unfavorable as the cryptocurrency struggles to recover from five consecutive weeks of losses.

At the time of writing on Monday, ADA trades around $0.1748, remaining firmly below its major Exponential Moving Averages (EMAs).

The 50-day EMA stands at $0.209, while the 100-day EMA is positioned at $0.211. Meanwhile, the longer-term 200-day EMA sits considerably higher at $0.232.

The recent recovery attempt from below $0.180 has done little to change the broader technical structure, suggesting that the rebound may represent temporary consolidation rather than the beginning of a sustained bullish reversal.

Momentum indicators also point to continued weakness. The daily Relative Strength Index (RSI) hovers near 30, approaching oversold territory while indicating that selling momentum remains dominant.

Meanwhile, the Moving Average Convergence Divergence (MACD) remains slightly negative, reinforcing the cautious outlook.

If ADA fails to attract stronger buying interest, sellers could push the price toward the horizontal support level at $0.156.

A decisive breakdown below this area would weaken the technical structure further and potentially expose Cardano to a deeper correction.

ADA/USD Daily Chart
ADA/USD Daily Chart

However, Cardano could attempt a short-term recovery if buyers defend current price levels. The first significant resistance stands at $0.183, which ADA must reclaim to establish an initial improvement in momentum.

A sustained breakout above this level could encourage buyers to target the 50-day EMA at $0.209, followed closely by the 100-day EMA at $0.211.

However, these moving averages form a concentrated resistance zone that could attract renewed selling pressure.

Beyond this area, the 200-day EMA around $0.232 represents another major hurdle. Additional resistance levels are located at $0.236 and $0.245, while a more substantial recovery could eventually bring the $0.296 region into focus.

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Is XRP heading towards $1 amid persistent ETF outflows?

Key takeaways

  • XRP trades near $1.09 on Monday after declining more than 10% last week, with sellers maintaining control of the broader market.
  • US spot XRP ETFs recorded $529,510 in net outflows last week, ending two consecutive weeks of positive institutional flows.
  • XRP risks testing the psychological $1 support level as bearish technical indicators persist.

XRP continues to face selling pressure on Monday, trading around $1.097 after losing more than 10% of its value last week. 

The cryptocurrency remains firmly in bearish territory as weakening institutional demand, deteriorating derivatives positioning, and unfavorable macroeconomic conditions undermine recovery attempts.

XRP ETF outflows signal cooling institutional demand

Institutional appetite for XRP weakened last week, reversing the positive momentum recorded during the previous two weeks.

According to SoSoValue, US spot XRP ETFs recorded $529,510 in net outflows last week, ending the two consecutive weeks of inflows.

For XRP, the return to negative weekly flows comes at a particularly vulnerable time, with the cryptocurrency already facing substantial technical weakness.

Beyond ETF withdrawals, derivatives market data suggests traders are increasingly positioning for further downside.

According to CoinGlass, XRP’s long-to-short ratio declined to 0.89 on Monday, approaching its lowest level in more than a month.

A ratio below one indicates that short positions outnumber long positions in the measured market, suggesting traders are leaning toward further price declines.

Additional data from CryptoQuant reinforces this bearish outlook. The analytics platform’s market summary shows large whale orders across XRP’s spot and futures markets, accompanied by persistent sell-side dominance.

This combination suggests that larger market participants remain active while selling pressure continues to outweigh buying demand.

CryptoQuant also identifies heating conditions in the spot market, indicating heightened trading activity during the ongoing correction.

Macroeconomic developments are creating additional challenges for XRP as investors reassess the outlook for US monetary policy.

Stronger-than-expected US Nonfarm Payrolls (NFP) data released last week reinforced expectations that the Federal Reserve could maintain restrictive interest rates for longer or introduce another rate increase.

According to CME FedWatch figures, traders are pricing in approximately a 78.7% probability of a December interest rate hike, compared with 72.8% before the employment report.

XRP price forecast: Bears target the psychological $1 support

XRP’s technical outlook remains bearish as the cryptocurrency trades well below its major moving averages.

At the time of writing on Monday, XRP changes hands near $1.097, following a sharp weekly decline that has left buyers struggling to regain control.

The cryptocurrency remains below its 50-day, 100-day, and 200-day Exponential Moving Averages (EMAs), which are clustered between $1.302 and $1.360.

This creates a significant resistance zone, suggesting that any meaningful recovery could encounter substantial selling pressure.

Momentum indicators also point to continued weakness. The daily Relative Strength Index (RSI) stands near 26, placing XRP firmly in oversold territory.

Meanwhile, the Moving Average Convergence Divergence (MACD) histogram remains negative, reinforcing the prevailing bearish momentum.

With XRP trading near recent lows, sellers could attempt another push toward the psychological $1 support level.

A decisive breakdown below this threshold would represent a significant technical setback and could encourage further selling, although additional support levels would need to be established.

XRP/USD Daily Chart
XRP/USD Daily Chart

Despite the prevailing bearish conditions, XRP could stage a temporary rebound if buyers capitalize on oversold momentum readings.

The first important resistance level stands at $1.160, which bulls must reclaim to establish an initial recovery.

A sustained move above this barrier could open the door for a broader advance toward $1.300, where stronger selling interest may emerge.

Beyond this level, XRP faces additional resistance from the 50-day EMA at $1.302 and the 100-day EMA at $1.307.

The 200-day EMA at $1.360 represents another major hurdle that buyers would need to overcome before the broader technical outlook begins to improve.

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Zcash holds near $1,300 as NU7 upgrade fuels bullish momentum

Key takeaways

  • Zcash (ZEC) trades around $1,300 on Friday, outperforming the broader cryptocurrency market.
  • Grayscale’s ZEC-focused ETF (ZCSH) recorded $10.99 million in net outflows on Thursday, bringing weekly withdrawals to $14.77 million.
  • ZEC faces immediate resistance at $1,340, with a confirmed breakout potentially opening the door toward $1,698, while $1,216 and $1,112 remain key support levels.

Zcash (ZEC) maintained its strength around $1,300 on Friday, outperforming major cryptocurrencies as the broader market struggled to recover from a selloff that triggered more than $1 billion in liquidations the previous day.

The privacy-focused cryptocurrency traded around $1,290, supported by anticipation surrounding its Network Upgrade 7 (NU7), scheduled for activation on Friday.

The upgrade introduces significant changes to Zcash’s blockchain, including faster block confirmations, the retirement of older shielded transaction pools, and a new mechanism intended to support the network’s long-term sustainability.

However, institutional investment flows present a contrasting picture. Grayscale’s ZEC-focused Exchange-Traded Fund (ETF) recorded nearly $11 million in net outflows on Thursday, while total weekly withdrawals reached $14.77 million.

Despite the ETF weakness, derivatives market participation has increased, with Zcash futures Open Interest rising to 2.15 million ZEC.

Technically, ZEC must overcome resistance at $1,340 to strengthen its bullish outlook and potentially extend its recovery toward $1,698.

Zcash defies crypto market selloff ahead of NU7 upgrade

Zcash has demonstrated relative strength despite a broad decline across cryptocurrency markets.

The wider selloff triggered more than $1 billion in derivatives liquidations on Thursday as investors reduced exposure to risk-sensitive assets.

Bitcoin, Ethereum, and several major altcoins recorded substantial losses, reflecting heightened market uncertainty.

However, ZEC continued trading around the psychological $1,300 level. The resilience coincides with growing attention surrounding the network’s NU7 upgrade.

Scheduled for activation at block height 3,543,405, the upgrade introduces several technical changes designed to improve network efficiency and sustainability.

The upcoming activation has provided a potential catalyst for traders seeking opportunities outside the broader market downturn.

Institutional demand for Zcash investment products has weakened despite the token’s relative price strength.

According to SoSoValue, Grayscale’s ZEC-focused ETF, trading under the ticker ZCSH, recorded $10.99 million in net outflows on Thursday.

The withdrawals pushed the fund’s cumulative weekly net outflows to $14.77 million. The latest figures suggest that investors using the ETF have been reducing their exposure to Zcash.

Zcash technical analysis: $1,340 resistance holds the key

Zcash’s daily chart shows the cryptocurrency consolidating beneath an important horizontal resistance level.

At approximately $1,290, ZEC remains below the $1,340 barrier established by the October 8 high. The level has emerged as a key obstacle for buyers attempting to extend the recent recovery.

A decisive daily close above $1,340 could signal a bullish breakout from the current consolidation range. Such a move may attract additional buying interest and shift attention toward the September 26 peak at $1,698.

However, the bullish scenario depends on a confirmed breakout and sustained buying momentum. Failure to overcome $1,340 could keep ZEC confined within its existing trading range.

The lower boundary of that range is positioned near $1,112, corresponding to the October 8 low.

Despite the resistance overhead, Zcash’s broader technical structure remains constructive.

The cryptocurrency trades above its 50-day Exponential Moving Average (EMA), currently positioned around $1,216.

The 50-day EMA also remains well above the 200-day EMA at approximately $856. This alignment suggests that the underlying trend continues to favor buyers, even as the token consolidates.

Momentum indicators provide additional support for the bullish outlook. The daily Relative Strength Index (RSI) stands near 53, above the neutral 50 threshold.

Meanwhile, the Moving Average Convergence Divergence (MACD) indicator is positioned above its signal line, suggesting that bullish momentum remains intact.

Together, these indicators suggest that ZEC retains the potential for another upward move if buyers successfully overcome the $1,340 resistance level.

Zcash’s next significant price movement may depend on whether buyers can push the cryptocurrency above $1,340.

A sustained breakout could open the door toward $1,698, the previous peak recorded on September 26.

ZEC/USD Daily Chart

However, if ZEC fails to reclaim $1,340, traders may shift their attention toward nearby support levels. The first important downside level is the 50-day EMA around $1,216.

A sustained decline below $1,216 would weaken the near-term bullish outlook. The next major support would emerge at $1,112, the lower boundary of the current consolidation range.

A breakdown below that level could signal a more significant deterioration in market structure.

For now, ZEC remains in a relatively constructive position above its major moving averages, although resistance at $1,340 continues to limit upside momentum.

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