Cryptocurrency Prices Decline due to ETF Withdrawals, Bitcoin, Ethereum, and Ripple Affected
July 6, 2026
The cryptocurrency market is experiencing a downturn as risk aversion and outflows from spot ETF products put pressure on major digital assets like Bitcoin (BTC), Ethereum (ETH), and XRP. Bitcoin is trading below $63,000, while Ethereum and XRP are approaching key support levels at $1,700 and $1.10, respectively.
The broader sentiment towards digital assets remains negative due to macroeconomic challenges, geopolitical uncertainties, and a lack of positive catalysts. Despite a slight increase in the crypto Fear & Greed Index from 12 to 24, confidence in the market has not improved significantly, leading to a risk-off environment.
Flows into US-listed spot Bitcoin ETFs have shown persistent outflows, totaling $527 million over the past week, marking an eighth consecutive week of withdrawals. However, cumulative inflows into Bitcoin ETFs remain positive at $51 billion, with an average AUM of $74 billion. Ethereum spot ETFs have also experienced net redemptions of $14 million, continuing an eight-week streak of outflows, but still maintaining cumulative inflows of $11 billion with a total AUM of $9 billion.
In contrast, XRP-linked spot ETFs have bucked the trend by attracting nearly $12 million in inflows over the past week, marking nine consecutive weeks of positive flows. Cumulative inflows for XRP-related investment vehicles stand at $1.49 billion, with an average AUM of $988 million, demonstrating sustained investor interest in XRP despite the overall risk-off sentiment in the market.
Technically, Bitcoin is facing resistance from key moving averages, such as the 50-day EMA at $65,739 and the 100-day EMA at $69,453, with a broader bearish trendline near $71,371. Ethereum is testing the lower range of key support at $1,756 and is struggling to break above its principal EMAs, while XRP remains below major EMAs, including the 50-day EMA at $1.18.
Although momentum indicators show some signs of improvement for Ethereum and XRP, the overall market sentiment remains cautious. Market participants are closely monitoring support and resistance levels to gauge the potential continuation of the current rebound or a reassertion of the prevailing downtrend.
In conclusion, the cryptocurrency market is facing downward pressure as risk aversion and ETF outflows impact major digital assets. Despite some positive developments for XRP, overall market sentiment remains fragile, highlighting the need for investors to carefully assess their positions in the current market environment.
