Institutions are buying, but prices are falling... What's happening to Bitcoin, Ethereum, and XRP?

▲ Bitcoin (BTC), Ethereum (ETH), XRP (XRP)/ChatGPT generated image ©

Bitcoin (BTC), Ethereum (ETH), and XRP (Ripple) are all showing weakness despite a large influx of institutional funds. Although $2.4 billion flowed into Bitcoin spot ETFs last week, short-term upward momentum has slowed, pushing BTC below $83,000, ETH below $2,650, and XRP below $1.50.

According to investment media FXStreet on September 28 (local time), US spot Bitcoin ETFs saw a net inflow of $2.4 billion last week, a significant increase from $6.2 million the previous week. Cumulative net inflows reached approximately $58 billion, with average assets under management (AUM) at $108 billion. Spot Ethereum ETFs also turned from a net outflow of $140 million the previous week to a net inflow of $690 million last week, with cumulative net inflows totaling $14 billion and average AUM at $18 billion. XRP spot ETFs recorded a net inflow for 11 consecutive weeks, with $76 million flowing in, up from $10 million the previous week. Cumulative net inflows and AUM each stand at $1.8 billion.

Despite institutional buying, Bitcoin has fallen below $83,000, slowing its short-term upward momentum. However, the price remains above the 50-day, 100-day, and 200-day Exponential Moving Averages (EMAs), and the SuperTrend indicator is at $78,352, below the current price, indicating that the short-term bullish structure is maintained. The Relative Strength Index (RSI) is at 58, and the Moving Average Convergence Divergence (MACD) shows a slight positive just above the zero line. $83,000 is a short-term support level, and in case of further decline, $78,352 and the 50-day EMA at $77,301 are suggested as the next support zones. In a deeper correction, $74,242 and $73,920 are considered key support levels.

Ethereum has dropped to $2,651 but remains above its 50-day EMA of $2,426 and SuperTrend of $2,434, maintaining a short-term bullish structure. The RSI is close to 60, but the MACD has turned slightly negative, indicating a slowdown in upward momentum. The $2,425-$2,435 range is the first support zone, and if it breaks, the 100-day EMA at $2,265 and the 200-day EMA at $2,261 are suggested as the next support levels.

XRP has fallen approximately 10% from its September high near $1.66, trading below $1.50. The RSI is at 55, and the MACD maintains a slight positive above the zero line, suggesting that upward momentum has not completely broken. In case of a decline, the 200-day EMA at $1.37 and the 50-day EMA at $1.36 are the first demand zones, followed by the 100-day EMA at $1.30 and the SuperTrend support at $1.28 as lower support zones.

FXStreet analyzed that despite strong institutional demand, the short-term upward momentum of Bitcoin, Ethereum, and XRP is slowing. For Bitcoin, in particular, $80,000 has been presented as a key price level that will determine the future market direction. If this price level is defended as support, new buying interest and a rebound could emerge, but if it breaks, selling pressure could deepen, according to the analysis.

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