Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP) show signs of cautious stabilization on Wednesday after failing to close above their key resistance levels earlier this week. BTC trades below $69,000, while ETH and XRP also encountered rejection near major resistance levels.
Bitcoin's (BTC) fall from grace since the October 10 leverage flush has been spearheaded by sustained ETF outflows and a rotation into the AI narrative, according to Wintermute.
Bitcoin (BTC) is trading under pressure at the time of writing on Thursday, holding above $70,000 after hitting an intraday low of $70,140. The decline reflects weakening demand from both institutional and retail investors.