Will ETF Outflows Stop? Bitcoin, Ethereum, and XRP Near a Range Breakdown

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

Bitcoin, Ethereum, and XRP (Ripple) remain trapped in a range-bound market amid continued spot ETF outflows, struggling to regain upward momentum.

According to investment media outlet FXStreet on February 19 (local time), Bitcoin (BTC) has been moving within a limited range between support at $65,118 and resistance at $72,271. Ethereum (ETH) failed to break above the psychological resistance level of $2,000 and is fluctuating around $1,972, while XRP appears capped on the upside amid risk-off sentiment even after reaffirming support at $1.40.

Spot ETF fund flows reflect overall market sentiment. According to SoSoValue data, Bitcoin spot ETFs recorded net outflows of approximately $133 million on the 19th alone. Total net assets have declined to $83.63 billion from a peak of $170 billion last October, with cumulative net inflows standing at about $54.1 billion. Ethereum spot ETFs also saw roughly $42 million in outflows the same day, bringing cumulative net inflows to $11.65 billion and average assets under management to $11.12 billion. XRP-related spot ETFs recorded net outflows of $2.2 million, reducing net assets to $1.02 billion.

Technically, $65,118 is a key short-term level for Bitcoin. On the daily chart, the MACD remains above the signal line, with expanding green histogram bars stimulating buying sentiment. The Money Flow Index (MFI), which tracks capital flows, has rebounded to 52, signaling buying dominance. However, if $65,118 breaks on a daily closing basis, the possibility of a retest of $60,000 opens up. Conversely, a breakout above $72,271 could revive expectations for a renewed upward trend.

Ethereum is holding above the $1,900 support level, but the 50-day EMA at $2,514, 100-day at $2,836, and 200-day at $3,071 are all sloping downward, suggesting a structurally bearish trend. The daily MACD maintains a buy signal, and the MFI remains above 50, leaving room for a short-term rebound. However, if support at $1,747 is tested again, increased volatility cannot be ruled out.

XRP continues to fluctuate above the $1.40 support level but remains below the 50-day moving average at $1.70, the 100-day at $1.91, and the 200-day at $2.12, maintaining a mid-term downtrend structure. A break below $1.40 could open the way to $1.25 and further down to $1.12. However, with the MACD staying above the signal line and the MFI rising to 64, a breakout above $1.50 could generate short-term rebound momentum. Unless ETF outflows subside, major cryptocurrencies are likely to remain range-bound for the time being.

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