Due to the strong downside momentum and tight conlsidaiton, I see potential for the further drop..
Author
Petar Jaćimović
FXCentrum
Petar Jaćimović was born on 8 July 1989 in Jagodina, Serbia.
XRP tests $1.40 support and rises to trade at $1.43 on Wednesday as the crypto market broadly consolidates. XRP faces profit-taking risk, as whales increasingly sell following last week’s rally.
Bitcoin hovers above $78,000 on Wednesday, struggling to advance beyond $80,000 after its strongest weekly rise in three years. BTC ETFs recorded their seventh consecutive day of inflows, totaling $314 million on Tuesday, amid whales rotating $5 billion into tax-deferred swaps.
Bitcoin has retained a strong bullish outlook since last week, trading around $79,000 on Wednesday. As the Crypto King consolidates, bulls appear to be mulling another breakout attempt to reclaim $80,000 and push beyond the supply zone at $82,500.
Hyperliquid is up 4% on Wednesday, with bulls eyeing a new record high above Sunday’s high at $83.30. HYPE-focused ETFs recorded $7.51 million in inflows on Tuesday, up from $5.74 million the previous day.
Bitcoin extends gains, trading above $77,000 on Friday after rallying over 20% and reaching its highest level since mid-May. Crypto markets continue to cheer the US Treasury’s decision to double its debt buyback operations, posting their 7th-largest liquidation event in history.
![BTC/USD – Potential for another drop [Video]](https://editorial.fxstreet.com/images/Markets/Currencies/Digital Currencies/Bitcoin/bitcoins-36855764.jpg)