The cryptocurrency market capitalization has fallen about 10% in February, slipping to roughly $2.4 trillion and undermining investor sentiment. Bitcoin is trading around $69,000 after a second consecutive daily decline, having previously tested the $60,000 level on Friday before briefly rebounding above $70,000. Ethereum remains above $2,000, with XRP holding above $1.40 amid ongoing weakness.
Institutional interest in crypto ETFs persists, with inflows into spot offerings signaling ongoing demand. US-listed Bitcoin spot ETFs drew about $145 million on Monday, contributing to a cumulative inflow of $54.83 billion and total assets under management of $90.05 billion. Ethereum ETFs resumed inflows on Monday, totaling around $57 million, bringing cumulative inflows to $11.87 billion and assets under management to $12.42 billion. XRP spot ETFs saw inflows of approximately $6.3 million on Monday, lifting the cumulative inflow to $1.23 billion and assets under management to $1.04 billion.
Chart and technicals underscore a bearish tilt. Bitcoin remains well below the 50-day EMA at $84,081, the 100-day EMA at $89,939 and the 200-day EMA at $95,470, with the MACD below the signal line and the RSI around 32 indicating continued pressure. A test of the $67,300 support area is plausible, while a rebound toward last Sunday’s high of $72,271 remains possible if bulls reclaim the $70,000 level. Ethereum and XRP also show fragile setups; Ethereum trades above $2,000 with RSI around 30 and the MACD below its signal line, while XRP stays above $1.40 though near-term resistance sits near $1.50.
Leave a Reply