.png){kind=logo}
Bitcoin, Ethereum, and XRP remained under pressure on Tuesday as traders stayed cautious despite fresh comments on US-Iran talks. Bitcoin hovered near $70,000, Ethereum traded below $2,000 and XRP moved close to the $1.25 support area.
However, market sentiment stayed weak as ETF outflows, treasury inflow declines, and wider crypto-equity divergence weighed on digital assets.
US President Donald Trump said on Monday that he spoke with Israeli Prime Minister Benjamin Netanyahu and asked him not to proceed with a major raid on Beirut. He also told ABC News that a deal to reopen the Strait of Hormuz and extend the ceasefire with Iran could be reached ‘over the next week.’
However, traders showed little response to the remarks. A CNN report, citing a regional source, stated that US-Iran negotiations had resumed after Iran paused talks over Israel’s offensive in Lebanon. Even so, crypto markets remained weak as investors avoided high-risk assets.
Bitcoin traded near $70,000 after touching $70,023 on Coinbase, its lowest level since April 7. The move marked a daily fall of more than 4% and a weekly loss of 8%, according to TradingView data. Ethereum held near $1,984, while XRP traded around $1.26.
Spot Bitcoin ETF outflows reached $484 million last week. That brought cumulative inflows down to $55.18 billion, while total assets under management stood at $91.16 billion, according to SoSoValue data.
Ethereum ETFs also recorded another week of withdrawals. Outflows reached $44.44 million through June 1, with cumulative inflows averaging $11.33 billion. Net assets under management stood at $11.14 billion.
Meanwhile, XRP ETFs posted mild inflows of $4.13 million last week. The move extended their inflow streak to five weeks. Still, that was not enough to ease overhead pressure as XRP stayed below its main moving averages.
Bitcoin remained below a heavy resistance zone on the daily chart. The 50-day EMA stood at $75,796, while the 100-day EMA sat at $76,342. The 200-day EMA near $80,810 remained the broader resistance level.
Momentum stayed weak. The RSI slipped near 27, placing Bitcoin in oversold territory. However, the MACD histogram remained negative, showing that selling pressure had not yet eased.
Initial resistance sits near $71,153, where the former rising trendline now acts as a barrier. A move above $75,796 and $76,342 could ease some pressure. However, if Bitcoin loses $70,000 as support, the next downside area sits near $65,000.
Ethereum traded below its 50-day EMA at $2,166, its 100-day EMA at $2,256, and its 200-day EMA at $2,479. This stacked resistance keeps the short-term trend under pressure.
The RSI hovered near 30, while the MACD remained negative. Initial resistance sits near $2,046, followed by $2,166 and $2,256. If selling extends, buyers may watch $1,900 and $1,800.
XRP also stayed below its 50-day, 100-day, and 200-day EMAs at $1.38, $1.45, and $1.65. The RSI stood near 32, showing heavy selling pressure. Resistance sits near $1.38, $1.45, and $1.52, while $1.65 remains the key level for a stronger recovery attempt.
Digital asset treasury inflows fell to $180 million in May, the lowest level since October 2024, according to DefiLlama data. The figure was down 95% from April’s $4.4 billion.
Bitcoin treasury firms accounted for $177 million, or about 98% of May inflows. However, Bitcoin-linked inflows also dropped sharply from $3.8 billion in April.
Galaxy Digital previously said the ‘raise-and-hold’ era for digital asset treasury firms is over. Meanwhile, Mercuryo’s Arthur Firstov said blaming ETFs alone ‘oversimplifies’ the market shift. He added, “ETFs do impose a structural constraint that didn’t exist before.”
Santiment also noted growing concern over crypto’s weakness against equities. It said “the gap between traditional equities and crypto has become increasingly difficult for traders to ignore,” as investors continue to favor stocks over Bitcoin and altcoins.
