Crypto Today: Bitcoin, Ethereum, and Ripple risk steeper correction as bearish pressure mounts

• Bitcoin remains under pressure, with losses extending below $63,000 as bearish momentum resurfaces.
• Ethereum edges lower to a crucial support cluster, risking a drop below the 50-day EMA at $1,865.
• Ripple hovers above the crucial psychological support of $1.00 amid persistent downside pressure.

Bitcoin (BTC) trades below $63,000 on Friday, projecting a downside bias as selling pressure resurfaces. Ethereum (ETH) and Ripple (XRP) also take a bearish path, risking a drop below the 50-day Exponential Moving Average (EMA) at $1,856 and the $1.00 psychological support, respectively. The technical outlook for BTC, ETH, and XRP is bearish, with downside momentum building.

Technical outlook: Will Bitcoin's price drop to $60,000?

Bitcoin maintains a bearish near-term bias as the price drops below $63,000, capped below the 50-day Exponential Moving Average (EMA) at $64,453 and the 200-day EMA at $73,089. The King Crypto is also trading below the broken upward support trendline around $63,982, suggesting an increase in downside pressure.

Momentum is soft, with the Relative Strength Index (RSI) at 42 and the Moving Average Convergence Divergence (MACD) declining into the negative territory, hinting that downside pressure persists.