Bitcoin and XRP traded defensively on Thursday as a cluster of regulatory and macro headwinds left top cryptocurrencies nursing losses. CoinDesk market data showed bitcoin under pressure while XRP hovered near the $1 level, with traditional markets and ETF flows providing little support.
Regulatory Headwinds Keep Bitcoin on the Back Foot
The latest leg lower comes as the regulatory picture sours across major markets. Bitcoin remains the anchor asset, but the mood has been dampened by restrictions and policy uncertainty. Russia Moves to Restrict Retail Crypto Trading to Bitcoin, Ether and USDT is one recent development that added to the cautious tone for the largest cryptocurrency.
Broader corporate and market signals have also offered little support. SpaceX Revenue Beat Overshadowed by $540M Bitcoin Write-Down illustrates how large holders and companies remain exposed to the same volatility that is keeping bitcoin under pressure. Meanwhile, ETF flows have not reversed the downbeat mood, and traditional markets are not providing a positive catalyst.
Key Levels and Flows to Watch as XRP Holds Near $1
XRP is the most visible altcoin under pressure, with traders watching whether the $1 handle can hold. The souring regulatory backdrop extends beyond bitcoin and has kept buyers cautious across major tokens. Lawsuit Alleges Apple Kept Fake Bitcoin Wallet on App Store After $875,000 Theft Report highlights the legal and platform risks that continue to surface as regulators scrutinize crypto services.
The next key watchpoints are ETF flow data and whether traditional markets stabilize. If risk sentiment remains weak, top cryptocurrencies could struggle to build a durable bounce, but the situation remains a policy-driven pullback rather than a structural shift.
