BTC falls to $66,000 ETH retreats to the early $2,000 range XRP continues bearish trend
Design by Blockstreet Reporter Jeong Ha-yeon
Amid continuing capital outflows from the market, with a total net outflow of 273.9 billion won from U.S. spot cryptocurrency ETFs yesterday, global risk asset sentiment has dampened as U.S. President Donald Trump announced a "Liberation Day" policy imposing tariffs of 10–50% on more than 50 countries and even mentioned the possibility of additional military strikes against Iran. Consequently, Tether Dominance (USDT.D), a measure of safe-haven preference, has broken through the key resistance level of 7.92% again to reach the 8% range, exerting downward pressure on the overall cryptocurrency market.
Bithumb Bitcoin (BTC) Daily Chart
Bitcoin (BTC) is showing a downward trend amid geopolitical risks and the aftermath of capital outflows. As of 4 p.m. on the 2nd, Bitcoin is trading at $66,695 (101.51 million KRW), and a short-term bearish structure appears to be continuing following the failure to recover $68,770.
Bithumb Ethereum (ETH) Daily Chart
Ethereum (ETH) is also under downward pressure after failing to hold support at $2,100. As of the same time, Ethereum is trading at $2,046 (approximately 3.1 million KRW), and it is analyzed that whether support is found in the low $2,000 range will determine its short-term direction.
Bithumb Ripple (XRP) Daily Chart
XRP continues its weak trend in the low $1.30 range (2,000 KRW). Despite recent attempts to rebound, it has failed to recover key resistance levels and is showing a relatively sluggish performance; market analysts suggest that it needs to stabilize above $1.36 to allow for further gains.
The market believes that investor sentiment has sharply contracted due to a combination of ETF outflows, tariff policies, and geopolitical tensions. Going forward, whether Tether dominance rises further and whether major coins defend their support levels are expected to act as key variables determining the short-term trends of the cryptocurrency market.
Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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