Cryptocurrency today: Bitcoin, Ethereum, XRP pause upward trend amid potential profit-taking:

Bitcoin fell below $115,000, supported by stable ETF inflows and growing optimism about the Federal Reserve's interest rate decisions.
Ethereum has shown short-term weakness, falling below $4,600, possibly due to profit-taking.
XRP retraced to test the support of the descending trend line, reflecting increased volatility in the broader cryptocurrency market.
Bitcoin (BTC) paused its steady upward trend from last week, dropping below $115,000 on Monday. The pullback in BTC prices is causing subtle fluctuations in the cryptocurrency market, with Ethereum (ETH) and XRP (XRP) leading the corrections among other coins.
Data Focus: Bitcoin Regains Attention from Institutional Investors
Institutional interest in Bitcoin ( BTC ) has stabilized over the past week, while the spot trading ETFs ( in the US ) have experienced steady inflows. According to SoSoValue, the inflow for BTC ETFs last week reached $2.34 billion, bringing the cumulative total inflow to $56.83 billion. The current total net assets average approximately $153 billion.
As for Ethereum, last week the US spot ETF gained momentum, with an inflow of approximately $638 million, as shown in the figure below. The cumulative net inflow of the Ethereum ETF is slightly over $13 billion, with total net assets of $30 billion.
As for XRP, the retail demand for this token remains relatively high, with a futures open interest of (OI) averaging $8.7 billion on Monday. Due to ongoing adjustments and traders repositioning, the open interest, which is the nominal value of outstanding futures contracts, has slightly decreased from the $8.95 billion recorded on Sunday.
After significant increases in Bitcoin, Ethereum, and XRP last week, traders seem to be taking profits and adjusting their positions ahead of the highly anticipated U.S. Federal Reserve (Fed) interest rate decision. The Federal Open Market Committee (FOMC) meeting on Wednesday is expected to result in a rate cut — a move that aligns with market expectations.
According to CME Group's FedWatch tool, the probability of the Federal Reserve lowering the interest rate by 0.25 percentage points to 4.00% to 4.25% is 94.2%. Other parts of the market expect a 0.50 percentage point cut. Currently, U.S. interest rates are between 4.25% and 4.50%.
The expected reduction in interest rates will increase interest in risk assets, such as stocks and encryption currencies. Therefore, the rate cut may push the encryption market towards a bullish fourth quarter.
Today's Chart: Bitcoin Cuts Gains as Volatility Surges
The price of Bitcoin remained below $115,000 at the time of writing on Monday, marking a cooling off from a steady rise above $116,000 last week. Short-term technical analysis indicates that market volatility will persist ahead of the Federal Reserve's interest rate decision.
The Relative Strength Index ( RSI ) has fallen to 55 on the daily chart, highlighting a weakening of bullish momentum. However, a rebound into the overbought area will confirm the bullish potential for Bitcoin to break above the $120,000 level.
At the same time, the Moving Average Convergence Divergence ( MACD ) indicator suggests that the bulls still have the upper hand. With the blue MACD line remaining above the signal line, bullish momentum may strengthen in the coming days.
However, if profit taking continues and leads to increased volatility, traders will pay attention to the potential support levels at the 50-day exponential moving average ( EMA ) at $113,423 and the 100-day EMA at $111,293.
Other cryptocurrency updates: Ethereum, XRP pullback gains
Ethereum is slightly above $4,500 amid a surge in volatility in the broader cryptocurrency market on Monday. The Relative Strength Index ( RSI ) is at 55, supporting a pullback as it declines towards the midline.
Despite the bearish outlook in the short term, traders should moderately lower their bearish expectations, considering that the MACD indicator maintains a bullish outlook, with the blue line above the red signal line. If the situation worsens and supply exceeds demand, it would be wise to shift focus to the 50-day EMA, located at $4,187, as the next temporary support level.
As for XRP, the current correction from last week's peak of $3.186 is testing a key descending trend line that has become support. The Relative Strength Index ( RSI ) is declining and currently holds at 50, having reached a peak of 60 on Saturday, indicating a weakening bullish momentum.
If the decline extends further below the medium line, the path of least resistance may continue downward, increasing the likelihood of XRP trading below $2.94. The 100-day EMA at $2.813 and the 200-day EMA at $2.565 can absorb potential selling pressure in case investors actively reduce their investment exposure.
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