Crypto Markets Consolidate as Retail Demand Fades for Bitcoin

Crypto markets are experiencing broad consolidation on Thursday, with Bitcoin (BTC) trading near $64,000. The price of BTC has been pressured by a weak technical outlook and softening retail demand.

Ethereum (ETH) hovers below $1,800, with its upside seemingly limited following an early-week rally that stalled at the 100-day EMA. Meanwhile, Ripple (XRP) is consolidating above the reclaimed $1.10 support as futures Open Interest steadies around 2.2 billion XRP.

Retail interest in Bitcoin has been softening, with perpetual futures Open Interest shrinking to 747,000 BTC on Thursday from 755,000 BTC the previous day. This decline in retail demand is weighing on broader market sentiment and could limit BTC's recovery.