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Crypto Today: Bitcoin, Ethereum and XRP lose bullish momentum as structural support holds
Developing
In Short: Crypto prices are moderating, with Bitcoin testing near-term support levels, while Ethereum and Ripple follow suit.
Malone Lam, a crypto trader, has admitted to stealing $245 million worth of Bitcoin and laundering the proceeds, according to a new report from the BBC.
As of this writing, Bitcoin is trading at $78,650, down 0.6% since midnight UTC, according to CoinDesk data.
Bitcoin's BTC $78,564.82 golden cross is live, confirming a widely-tracked bullish signal on the price chart, which has previously triggered 12 times in Bitcoin's history, yielding a mixed long-term track record.
However, the Relative Strength Index (RSI) is around 61, pointing to ongoing positive momentum, while the MACD remains in negative territory, indicating a bearish reading and moderating upside pressure.
Altcoins, including Ethereum and Ripple, are echoing Bitcoin's cautious sentiment, with Ethereum retracing to approximately $2,470 and Ripple to $1.38.
What's still developing
- The crossover shows that short‑term momentum is finally overtaking the long‑term trend, setting the stage for a potential sustained rally.
- Cryptocurrency prices are moderating on Thursday, with Bitcoin (BTC) dropping to test the near-term $78,000 support.
- Momentum is mixed, with the RSI hovering near 56 in a neutral-to-positive zone, while the MACD sits below zero and its signal line, suggesting bullish pressure is moderating rather than accelerating.
- Momentum appears mixed, as the Relative Strength Index (RSI) has eased to about 59 from overbought territory, hinting at a moderated but still positive tone, while the Moving Average Convergence Divergence (MACD) has slipped further into negative territory, indicating waning upside pressure and the risk of continued consolidation rather than an immediate breakout.
- Further south, the 100-day EMA near $70,727 represents another key structural floor that would need to give way to signal a more pronounced trend deterioration.
Sources
- Cryptonews.netlink