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Breaking: Crypto collapse with Bitcoin falling below $9,000 and Ethereum getting close to $220

  • BTC/USD is down 3.5% in the last two hours after a violent move below $9,000.
  • ETH/USD is trying to stay above $220 after a similar drop.
  • XRP needs to defend $0.169 to avoid the risk of falling towards $0.10
Breaking: Crypto collapse with Bitcoin falling below $9,000 and Ethereum getting close to $220
Lorenzo StroeLorenzo StroeIndependent Analyst

Most cryptocurrencies are experiencing a significant sell-off after Bitcoin fell below $9,000. BNB/USD has suffered the most with a 4% drop towards $15 and needs to hold $14.8 support. 

XRP/USD has only fallen by 2% but it's not surprising considering the digital asset has been weaker than the rest for the past few months. 

BTC/USD 1-hour chart

BTCUSD

Not everything is lost for Bitcoin if bulls can hold $8,900 and bounce back up above $9,000. For now the 12-EMA remains at around $9,160.

ETH/USD 1-hour chart

ETHUSD

XRP/USD 1-hour chart

XRPUSD

Author

Lorenzo Stroe

Lorenzo Stroe

Independent Analyst

Lorenzo is an experienced Technical Analyst and Content Writer who has been working in the cryptocurrency industry since 2012. He also has a passion for trading.

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Bitcoin (BTC) remains under pressure, down over 4% this week and trading around $76,900 at the time of writing on Friday. Institutional demand shows signs of weakness as spot BTC Exchange Traded Funds (ETFs) are on track to end their three-week inflow streak, recording nearly $500 million in net outflows through Thursday.