Crypto Majors Lose Steam as Technicals Point to Pullback

Key Moments

• Bitcoin (BTC) trades below $84,100 after a 2.88% weekly correction, slipping under the key $85,000 level.
• Ethereum (ETH) falls more than 3.88% this week and trades under $2,620 as momentum indicators turn neutral to negative.
• XRP extends its decline to $1.458, with technical indicators signaling fading bullish momentum after failing to clear $1.671.

Bitcoin: Failure at $87,000 Leaves Bulls on the Defensive

Bitcoin (BTC) continues to trade under pressure on Wednesday, quoted at $84,022 after two straight sessions of declines and a 2.88% correction so far this week. The market was unable to push through the recent peak near $87,000 and has since dropped below the key $85,000 support zone.

Despite the retreat, the broader structure remains constructive, with BTC holding comfortably above its 50-day, 100-day, and 200-day Exponential Moving Averages (EMAs), which are clustered between roughly $79,600 and $75,500. This EMA band continues to define a broad area of underlying support.

The Relative Strength Index (14) has eased to 55, pointing more to a normalization from prior overbought conditions than to outright weakness. However, the Moving Average Convergence Divergence (MACD) has fallen back below the zero line, indicating that upside momentum is waning as price consolidates beneath nearby resistance.