Bitcoin traded near the $75,000 support level on Wednesday as weak institutional sentiment persisted. Data showed Bitcoin ETFs experienced over $333 million in outflows. Ethereum remained below a key resistance level while XRP maintained steady ETF inflows.
Bitcoin price hovered around $75,000 as the broader crypto market faced continued low institutional confidence. At press time, Bitcoin was trading near $75,300, posting a mild daily decline.
The cryptocurrency had previously attempted to push above $76,000 but lacked momentum. It continued to trade below its major exponential moving averages, signaling sellers were leading the trend.
According to data from SoSoValue, Bitcoin ETFs recorded a net outflow of $333.31 million on Tuesday. The total level of inflows into BTC ETFs now stands at $56.75 billion.
This continued selling streak suggests institutional investors remain risk-averse. Low demand for these products has contributed to a slowing broader market.
Ethereum and XRP ETF flows revealed mixed momentum. Ethereum saw $35 million in outflows from spot ETFs and remained below the $2,100 resistance level.
Conversely, XRP experienced $1.55 million in inflows from spot ETFs. This trend has shown steady growth over recent weeks.
Overall market volatility is expected to be driven by Bitcoin’s price movements and ETF flows. Traders are also monitoring geopolitical events.
