Bitcoin, Ethereum, XRP, Dogecoin Down As Sentiment Turns To Greed

Major cryptocurrencies are trading lower in early Thursday hours despite ongoing institutional demand and cooling inflation data.

Sentiment has shifted sharply, with the Crypto Fear & Greed Index entering the ‘Greed’ zone, raising questions whether this pullback signals a phase of profit-taking and consolidation following the robust rally over the past few weeks.

Notable Statistics:

• IntoTheBlock data shows Bitcoin and Ethereum large transaction volume dropped 5.1% and 0.2%, respectively, in a single day. While ETH shows a 240% rise in exchange netflows, Bitcoin's daily active addresses are down 1.9%.
• Coinglass data shows 157,967 traders were liquidated in the past 24 hours for $346.93 million.
• SoSoValue data shows that spot Bitcoin ETFs saw a net inflow of $319.6 million, while spot Ethereum ETFs saw a $63.5 million net inflow.
• Santiment data shows the daily average of new wallet creations over the past month: Bitcoin leads with 309,000 new wallets per day, followed by Ethereum at 112,000, USDT at 36,400, and XRP with 3,500 daily.
• According to CoinMarketCap, the Crypto Fear & Greed Index has surged to 71, entering the Greed zone, up sharply from the neutral range (40–60) recorded in early May.

Trader Notes: Bitcoin is finding key support around $101,600, according to crypto chart analyst Ali Martinez.

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Meanwhile, trader Adam observed that Bitcoin appears exhausted after its climb to $105,000, with open interest returning to levels seen near previous all-time highs.

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He notes that spot markets are encountering increased selling pressure, and while the move from $80,000 suggests a solid base, this may not be an optimal time to open new long positions.

Martinez also highlighted that Ethereum has closed above its 200-period simple moving average on the 3-day chart, currently around $2,700.

Historically, such a close has marked the beginning of major bull rallies for ETH.

For Solana, analyst Crypto Zeinab notes that the coin is currently retesting the $180 breakout level.

A successful bullish retest could open the path toward $200.

Supporting this outlook, Glassnode data shows positive 30-day capital inflows of around 4–5% for SOL after months of outflows, signalling renewed investor interest, now on par with XRP.

Bluntz Capital pointed out that Dogecoin is forming a textbook inverse head and shoulders (IHS) pattern. The breakout occurred with strong volume, and the current pullback is seen as a healthy consolidation, potentially setting up for further upside.

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