Bitcoin News Today: Crypto's Winter Deepens as Technicals and Macroeconomics Align Against Bulls

Bitcoin faces persistent bearish pressure as technical indicators and market fundamentals align with further downward risks, according to recent analyses. The cryptocurrency, which has hovered near $92,000, remains vulnerable to a 10% correction to $83,111 if selling pressure overwhelms demand, with the Moving Average Convergence Divergence (MACD) indicator maintaining a sell signal since November 3. Meanwhile, Ethereum and XRP cling to key support levels at $3,000 and $2.00, respectively, but their technical structures remain weak, with both altcoins trading below critical moving averages and RSI readings approaching oversold territory.

The recent performance of crypto Exchange-Traded Funds (ETFs) underscores the fragility of market sentiment. Bitcoin ETFs saw mild inflows of $74 million on Wednesday, a rare positive note after five days of outflows, but net assets have dropped to $122.29 billion from $170 billion on October 6. In contrast, Ethereum ETFs have experienced prolonged outflows, with $37 million exiting on Wednesday alone, raising concerns about sustained recovery above $3,000. XRP's derivatives market remains subdued, with Open Interest (OI) averaging $3.79 billion-a decline from $3.85 billion the prior day, highlighting the token's susceptibility to further downside if risk-off sentiment persists.

Technical breakdowns are compounding the bearish outlook. Bitcoin's price is positioned significantly below the 50-day, 100-day, and 200-day Exponential Moving Averages (EMAs), forming a deteriorating trendline that could push it below $80,000 if support at $83,000 fails. Ethereum's Death Cross pattern, where the 50-day EMA crossed below the 200-day EMA, reinforces the bearish bias, with the RSI nearing oversold levels and a potential drop to $2,632 looming. XRP, trading below the 50-day EMA at $2.38, faces critical resistance at $2.52, with a breach of $2.07–$2.10 support likely to trigger a test of the $1.90 level.

Macroeconomic factors are amplifying the downward pressure. Uncertainty around the Federal Reserve's December rate decision has dampened risk appetite, with only an 81% probability of a 25-basis-point cut, according to the CME FedWatch Tool. This hesitancy has contributed to a broader sell-off in risk assets, including crypto, as traders brace for prolonged high interest rates. Additionally, on-chain data reveals heavy ETF outflows and increased exchange inflows, with Binance's BTC reserves climbing above 580,000 coins as whales and long-term holders liquidate positions.

The bearish momentum has spurred speculative interest in alternative plays. Bitcoin Hyper ($HYPER), a Bitcoin-aligned layer-2 project, has gained traction as traders seek asymmetric upside during the downturn. The presale, which raised over $28.3 million, offers 41% staking rewards and leverages a Solana Virtual Machine (SVM) architecture to enhance Bitcoin's utility. While the project's $0.013325 presale price suggests potential for a 4x–8x return, its success hinges on Bitcoin's eventual recovery and broader market sentiment according to recent analyses.

Looking ahead, the path for Bitcoin and altcoins remains precarious. A daily close above $92,000 could signal short-term relief, but institutional de-risking and technical breakdowns suggest further consolidation below $90,000 is likely. For Ethereum and XRP, buyers must defend key support levels to avoid deeper corrections, while macroeconomic clarity and renewed ETF inflows will be critical for a sustained rebound.