Daily Crypto Signals: Bitcoin Plummets to $83K While XRP Shows Strong Institutional DeFi Potential
Bitcoin experienced its worst three-day stint since 2022, plunging below $85,000 as record $938M outflows hit US spot ETFs. Meanwhile, XRP unveils ambitious institutional DeFi roadmap despite price correction.
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With Bitcoin losing its third straight day and just touching $82,256 on February 26 before attracting buyers, the market for cryptocurrencies keeps its declining path. With economic uncertainty, approaching Nvidia results, and a significant BTC options expiry on February 28 exerting downward pressure, this becomes Bitcoin’s lowest price point since November 2024.
As Bitcoin traded below $90,000, US spot Bitcoin ETFs saw their highest daily outflow ever—$937.9 million on February 25. With record $344.7 million in outflows, the Fidelity Wise Origin Bitcoin Fund (FBTC) topped the losses; BlackRock’s iShares Bitcoin Trust (IBIT) had outflows of $164.4 million. Two funds under Grayscale had total net outflows of $151.9 million.
Along with President Trump’s warning to impose 25% tariffs against the EU, which caused notable declines throughout equity markets as well, the larger market sell-off coincided with Sliding to a one-year low at 21, the Crypto Fear & Greed Index now falls into the “extreme fear” range.
Targeting $70,424, Bitcoin’s (BTC) fall below the $90,000 support on February 25 finished a bearish double-top pattern. At present, the price ranges at $83,870; analysts predict a possible bottom between $80,000 and $71,000 before stabilizing.
More Downside Expected in Bitcoin (BTC)?
Based to CoinGlass statistics, the corrected has eliminated almost $1 billion in leveraged long holdings over three days. Technical indications point to the RSI crossing oversold zone, indicating a probable near-term relief rally, although any bounce is probably going to encounter stiff resistance at the $90,000 mark.
According to market commentators, Bitcoin BTC/USD requires encouraging economic signals if it is to reach $95,000. Concerns about an artificial intelligence bubble and present strong demand for fixed-income assets hint to market anxiety and hence difficult circumstances for risk assets like Bitcoin.
Between February 23 and February 26, XRP (XRP) price dropped 16.8%, causing leveraged long futures liquidations worth $79 million. XRP, which is now trading at $2.19, has had its future open interest drop to 1.33 billion XRP (an 8% reduction from the previous week).
XRP Futures Open Interest Drops to 2025 Low
Given uncertainty about the possible establishment of a spot XRP ETF in the US and the continuous SEC action against Ripple, the dropping demand for XRP futures is seen as a bearish indicator signaling traders are focusing on other possibilities or staying on the sidelines of XRP/USD.
Notwithstanding financial obstacles, Ripple Labs has presented a bold plan for creating an institutionalized distributed finance (DeFi) ecosystem on the XRP Ledger blockchain. Applications for financial institutions wishing to employ blockchain in a controlled environment—including a permissioned decentralized exchange (DEX), a credit-based DeFi lending platform, and a new multi-purpose token (MPT) standard—take front stage in the proposal.
Solana’s Strong Support at $130
Solana’s SOL/USD price has dropped about 9% to at $134.55, approaching levels not seen since September 2024. With the 50-day and 200-day exponential moving averages on almost a “death cross,” two important markers on SOL’s daily chart are near to completing a bearish crossover.
Fibonacci retracement analysis indicates that SOL is presently in the “golden zone” between the 0.5 and 0.618 levels, with $130 having been very helpful during the six-month consolidation period in 2024. Suggesting an oversold state, the relative strength index (RSI) has fallen below 30 for the first time since June 2023.
Following a 50% drop from its all-time high, analysts speculate that the likelihood of a more severe correction could be limited, with consolidation and bottom forming between $130 and $150 over the following several weeks.
Litecoin’s Technical Analysis Reveals Bullish Signs
Litecoin LTC/USD has shown an amazing V-shaped comeback of 20% following a loss to $106 on February 25, unlike the larger market. LTC, valued at $125.13 right now, is surpassing most crypto market assets.
Between February 20 and February 26, Litecoin’s open interest fell from $885 million to $525 million, a 40% reduction. But a 10% flash open interest spike in the past 24 hours together with a price increase points to fresh long holdings from traders, supported by increasing funding rates verifying more long positions than shorts.
Technical analysts are still positive about LTC; some aim for a new all-time high at $300 while others more realistic estimates indicate $1,000 is possible should it break over $250. LTC still encounters overhead opposition at $140, a level it has not been able to surpass over the past three months, nevertheless.
Top Altcoins to Watch Today
- Cardano ADA/USD: Currently trading at $0.6488, it has bounced off the support line of its descending channel pattern, indicating strong buyer defense. A relief rally towards the 20-day EMA ($0.76) is possible, though bears are likely to defend this level.
- Sui (SUI): The coin attracted buyers at lower levels after slipping below $2.86 support, with recovery attempts likely to face resistance at the 20-day EMA ($3.28). A sharp rejection at this level could trigger further downside, while a reclaim signals potential for a move to $3.74.
- Chainlink LINK/USD: Despite dropping below its descending channel pattern, the long tail on recent candlesticks shows buying at lower levels, making it a potential recovery candidate. A break above the 20-day EMA is needed to invalidate the bearish outlook.
- Avalanche (AVAX): Plunging below the $22.35 support, AVAX is attempting a recovery. Its ability to reclaim this level and push towards the 20-day EMA ($25.13) will determine whether the bears remain in control or if a move towards $27.50 is possible.
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