Bitcoin traded around $82,000, having fallen about 7% over the past week as the market remained in a bearish cycle. Ethereum slid more than 7% to about $2,700, underscoring weakness across digital assets. The total market capitalization of cryptocurrencies stood at roughly $2.8 trillion. XRP slipped below $1.70 after a wave of selling pressure.
Bitcoin neared $83,000 but tumbled 7.5% this week as it struggled to sustain recent support levels. More than $2 billion in crypto derivatives positions were liquidated, with the majority long BTC and ETH. Technical factors suggested further downside, with potential targets at $80,500 and $76,400 if selling pressure persists. Spot Bitcoin ETFs experienced heavy outflows this week, with about $509 million withdrawn on Friday as investors exited.
XRP traded at $1.70, down about 4% over the past 24 hours. The price has been trending lower since mid-January, consistently forming lower highs and lows. A declining trendline has limited any rebound, leaving XRP under significant pressure. The outlook for XRP remains bearish amid ongoing selling pressure.
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