Bitcoin, Ethereum, and XRP prices plummeted today: What are the reasons behind this?

Bitcoin fell to US$76680, down 1.56% in the past 24 hours

The collapse of the cryptocurrency market is dragging Bitcoin, Ethereum and Ripple lower. The trigger came quickly: US troops attacked Iranian targets near the Strait of Hormuz, and oil prices soared to their highest level in 40 days. Such shocks tend to shake all risky assets immediately, and cryptocurrencies are no exception today.

What are the reasons for the decline in the cryptocurrency market today?

U.S. President Trump confirmed the attack and warned Iran not to retaliate. He later added that he was not trying to bring Iran back to the negotiating table and said he "doesn't care" whether Tehran signs any agreement. After the news broke, oil prices topped US$90 a barrel, setting their highest level in about six weeks. Traders are digesting the risk of long-term disruptions in the Strait of Hormuz, one of the world's busiest crude oil shipping corridors.

The total market value of cryptocurrencies has dropped to US$2.58 trillion, down 1.66% on the day, and trading volume was reported to US$82.4 billion. Ethereum fell to US$2375, a decrease of 3.15%; Ripple fell to US$1.32, a decrease of 2.90%; Solana fell 3.35% to US$98.61; Binance fell 0.43% to US$683.

Does the Cryptocurrency Fear and Greed Index still show greed?

Yes, but it has cooled down. The latest Fear and Greed Index reading is 63, still in the greedy range, down from yesterday's 69. Compared with the fear reading of 28 last month, investor confidence has improved significantly. If market sentiment is maintained, stable demand for digital assets may provide a cushion for the market to withstand more headwinds.

Does Bitcoin ETF see an outflow of funds today?

The U.S. spot Bitcoin ETF started to a weak month in September. Early data showed a net outflow of approximately $236.46 million on September 1, when only 3 of the 13 funds had reported. BlackRock's IBIT single fund accounted for approximately $201.2 million of this. Combined with macro concerns raised by the Iran attack, this ETF sell-off has put additional pressure on Bitcoin prices in the short term. Despite this, ETF flows have reversed this week, with Bitcoin funds flowing in $217 million just one day after the outflow trend was interrupted. This back-and-forth volatility is a common phenomenon when markets digest major macro news, indicating that institutional demand has not disappeared, even if performance during the day appears unstable.

Is the Ethereum ETF capital inflow still positive?

Yes, but the pace has slowed down. According to relevant data, the net inflow of the U.S. spot Ethereum ETF on September 1 was approximately US$10.95 million, marking 12 consecutive days of net inflow. However, the daily inflow rate was significantly lower than the strong momentum at the end of August. The total net assets of the Ethereum ETF are now US$15.21 billion, when the ETH price was at US$2,419.18.

Is the Ripple ETF capital inflow still positive this week?

The Ripple news cycle is not all about bearish news. The Ripple ETF had a strong start in September, with a net inflow of US$14.38 million on the first day of the month alone. In the past 11 days, the cumulative inflow of Swiss ETF funds was approximately US$170.3 million, which remained stable rather than volatile. The cumulative net inflow of Ripple ETF is now approximately US$1.68 billion, and the total net assets are close to US$1.44 billion. This is an important signal that institutional demand has not dried up even as spot prices fall.

Bitcoin price prediction: Is this a familiar pattern?

Not everyone views the pullback as purely negative news. Analysts pointed out that Bitcoin's current price structure is similar to the 2023 bottoming pattern. At that time, Bitcoin tested resistance three times, with a correction of about 20% after each attempt, returning to the middle of the trading range before finally breaking through on the fourth attempt. Bitcoin has been blocked once near the top of a similar channel. If the pattern repeats itself, there may be multiple failed breakout attempts and pullbacks to the $70,000 area before a decisive rise occurs. For now, the direct driving factor remains geopolitics, and the cryptocurrency market will maintain a defensive posture until the scope of the Iranian conflict becomes clearer.

What does the BTC/USD chart currently show?

The one-hour chart of BTC/USD shows that Bitcoin is trading in the downward channel, and the current price is close to US$77576, which is in the middle and lower part of the channel. Bitcoin's recent rebound from the $76400 to $76800 range suggests buyers are still defending the level. The RSI reading is close to 48, indicating neutral momentum rather than strong buying or selling pressure. Short-term moving averages are concentrated around $77600 to $77900 and currently pose resistance. Basic scenario: If Bitcoin holds above US$76800 to US$77000, it may rebound moderately to US$78000 to US$78400, and a breakthrough of US$78400 may open up space to US$78800 to US$79200. Downside risks: A break below the $76800 support level could push Bitcoin back to $76400, with the next level of concern at $76000.

Ethereum Price Forecast: What Does the Chart Show?

On the four-hour chart, the Ethereum trading range is roughly between $2380 and $2420. Prices have fallen below 20 EMA (about $2440) and 50 EMA (about $2429). The RSI reading is close to 33, indicating weak momentum but not yet deeply oversold. In the long run, the 100 EMA is at around US$2342, and the 200 EMA is close to US$2197, both well below current prices, indicating that the overall upward trend since the August breakthrough has not yet been broken. Ethereum has been blocked many times in the $2500 to $2550 area, which has now become a solid resistance. On the daily chart, some analysts pointed out that a golden cross pattern is taking shape. Historically, this pattern sometimes coincides with the early stages of a long-term bull market, but this result is not guaranteed every time.

What are the key support levels for Ethereum?

The $2380 region is a level that most traders pay close attention to. If this support clearly falls below on the four-hour chart, Ethereum could fall towards $2340 and could then fall further to $2300 to $2200. Ethereum is still close to its 50-week EMA, and holding on to this long-term moving average could open the door for a rebound to $2500 to $2550.

What will happen if Ethereum holds the US$2380 support level?

If buyers enter and regain the $2430 to $2450 area, the possibility of a rebound to $2500 will increase. US$2550 is a larger breakthrough level, and continued breakthroughs may gradually open the way to the US$2700 to US$2800 range.

Ripple Price Forecast: What Does the Chart Show?

Technical analysis becomes interesting. Ripple prices are compressing, with support below at around US$1.30 to US$1.35, and the upper downtrend resistance line comes from the blocked area of US$1.55 to US$1.60 at the end of August. This is a classic tightening pattern. When support continues to rise and resistance continues to fall, there is usually a directional breakthrough. The daily chart shows why traders are concerned. Ripple showed a similar trend in mid-August, rising about 55.68% from the US$1.00 support level, and then peaking around US$1.70. The current form appears to be a smaller version of the pattern. Ripple traded above the 20th and 50th day EMA (approximately US$1.31 and US$1.22 respectively), but remained below the long-term 100-day and 200-day EMA (still sloping downward from higher levels). The daily RSI is around 58, falling back from near its recent high of 72, indicating that the strong momentum at the end of August has slowed, but has not turned clearly bearish. Bullish scenario: If Ripple holds on to the US$1.30 to US$1.35 area and breaks through the downtrend line, the first target will be around US$1.55 to US$1.70, and may then move further towards US$2.00 to US$2.10. Bear failure: Continued lows below around $1.30 will weaken the pattern and may open up room for lower support. The measurement target on the chart points to the US$2.10 area, which is about 55% higher than the current US$1.35 level, but this depends on whether the Ripple can hold the current support area.