Bitcoin hovered near $86,000 early Wednesday as ETF outflows accelerated: Bitcoin ETFs saw $277.09 million in net outflows on Tuesday, while Ethereum ETFs reported $224.3 million in net outflows.
Rejection After Rejection
Michael van de Poppe said Bitcoin continues to face clear rejections, keeping the short-term downtrend intact.
A decisive break above $88,000 is needed to flip momentum bullish.
Failure to reclaim that level leaves downside liquidity targets in play, with potential sweeps toward $83,000 and $80,000 amid a macro-heavy week.
Crypto trader Jelle echoed the sentiment, noting repeated rejections have pushed BTC lower again.
A retest of $85,000 looks likely and losing that level could open the door to $82,000–$80,000.
Bulls need to act soon to protect the weekly structure.
For Ethereum, Ted Pillows said ETH remains range-bound, with a reclaim of $3,000 needed to signal strength. Failure increases the risk of a move below $2,800.
GordonGekko noted Solana is showing early signs of bottoming. If confirmed, the risk–reward from current levels could become attractive, raising the question of whether positioning is early enough for a larger move.
The meme-coin sector extended losses, sliding 5.4% to a $42.7 billion market cap.
Crypto analyst Ali Martinez flagged $0.074 as key support for Dogecoin, noting over 28 billion DOGE last changed hands around that level.
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