Solana (SOL) extends its decline, trading below $72 on Thursday after losing over 2.5% in the last two days. Institutional demand shows mild optimism as spot Exchange Traded Funds (ETFs) recorded an inflow of $1.06 million on Wednesday, marking the third consecutive day of inflow so far this week. Despite these positive flows, derivatives metrics continue to cap SOL’s upside move.XRP’s derivatives data signals a mild bearish tilt. CoinGlass’ OI-Weighted Funding Rate data for XRP flips to a negative rate, reading -0.0090% on Thursday, indicating shorts are paying longs and suggesting a bearish bias. In addition, the long-to-short ratio reads negative on the same day, further capping XRP.Bitcoin maintains a mild bearish bias in the near-term as it slips below $65,000. At the time of writing, BTC is trading below the 50-, 100-, and 200-day Exponential Moving Averages (EMAs), clustered around $70,067, $72,858, and $78,283, respectively. The recent rebound has turned the Moving Average Convergence Divergence (MACD) indicator positive, hinting at a corrective recovery, but the Relative Strength Index (RSI) near 39 still reflects weak demand, suggesting rallies are likely to face selling pressure while spot remains capped below these overhead EMAs and the previously broken rising trendline around $72,949.
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The cryptocurrency market suffered another sharp bout of volatility, with roughly $180 million in leveraged positions wiped out within a single hour as prices across...
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