Crypto Market Stuck in Corrective Bias Amid Persistent Outflows

The cryptocurrency market remains in a broader corrective bias, with Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP) showing limited signs of recovery. Despite holding slightly higher than early-week support levels, major cryptocurrencies are struggling to break above key resistance points.

Bitcoin spot Exchange-Traded Funds (ETFs) saw five consecutive days of outflows totaling $19 million on Thursday, suggesting that risk-off sentiment remains sticky in the broader crypto market. Cumulative outflows now stand at $53.54 billion, down from $55.18 billion recorded on June 1.

Ethereum spot ETFs also extended their bearish streak for the third consecutive day, with outflows totaling $16 million on Thursday. Demand for XRP spot ETFs remained quiet, with zero flows recorded on Thursday, leaving cumulative inflows steady at $1.43 billion and net assets under management at $985 million.

Bitcoin trades around $63,500 as its rebound stalls amid five consecutive days of ETF outflows. Ethereum shows signs of recovery but remains below the $1,700 psychological resistance amid persistent risk-off sentiment. XRP holds onto support at $1.14, remaining below major moving averages and the dynamic SuperTrend line resistance.

The Relative Strength Index (RSI) for Bitcoin is hovering near 33 on the daily chart, while the Moving Average Convergence Divergence (MACD) histogram remains negative despite contracting downside pressure. Ethereum's RSI is hovering just above oversold territory near 31, hinting at persistent downside pressure.

XRP trades at $1.14, remaining under clear bearish pressure as price holds beneath the SuperTrend line and all key moving averages. Momentum remains weak, with the RSI hovering in the mid-30s and the MACD histogram still negative.