Crypto Today: Bitcoin, Ethereum, XRP pause recovery amid strengthening technical levels
- Bitcoin trades above $74,000 after easing from higher levels, as institutional risk appetite stabilizes.
- Ethereum pulls back from its weekly high of $2,386, but support remains firm at $2,300, underpinned by modest ETF inflows.
- XRP encounters resistance after reclaiming the 50-day EMA as support, while ETF outflows persist.
The cryptocurrency market has remained relatively robust despite the ongoing war in the Middle East, which has driven Oil prices near $100. Despite Bitcoin (BTC) retreating from its daily high of $76,000 to hover above $74,000 at the time of writing, it is holding onto modest gains from the March low of $65,056.
Altcoins, including Ethereum (ETH) and Ripple (XRP), are trading below their respective daily highs reached at $2,376 and $1.61. Crypto prices have continued to weather the war-related volatility, signaling growing risk appetite for the asset class.
Bitcoin and Ethereum attract steady ETF inflows as XRP faces capital exit
Interest in Bitcoin spot Exchange-Traded Funds (ETFs) has remained steady, with inflows extending for the sixth consecutive day. US-listed ETFs posted approximately $202 million in inflows on Monday, according to SoSoValue data.
BlackRock accounted for $139 million of the inflows, followed by Fidelity with nearly $65 million. Bitcoin has $96.77 billion in assets under management, while cumulative inflows stand at $56.34 billion.
Steady inflows into ETFs suggest growing institutional risk appetite, which supports positive market sentiment.
Ethereum is also experiencing steady inflows into spot ETF products, supporting the strong rebound since the beginning of the month when ETH traded slightly above $1,900.
Inflows totaled $36 million on Monday, up from $27 million on Friday. In total, ETH ETFs have attracted $13.63 billion in net assets, with cumulative inflows averaging $11.83 billion.
XRP, on the other hand, appears to be lagging behind BTC and ETH. Spot ETFs saw outflows totaling $6 million on Monday. Looking back, activity remained muted on Friday, with ETFs closing with zero flows. SoSoValue data shows that cumulative inflows currently average $1.2 billion, and net assets $1.07 billion. If outflows persist, they are likely to limit XRP’s recovery potential, signifying the impact of capital exit on the price.
Chart of the day: Bitcoin holds higher support
Bitcoin is trading above $74,000, upholding a mildly bullish near-term bias. The price sits above the 50-day Exponential Moving Average (EMA) at $72,942, keeping the broader uptrend intact despite recent volatility. At the same time, the SuperTrend indicator recently flipped below the spot price and is currently providing support at $66,497.
The Moving Average Convergence Divergence (MACD) indicator remains in positive territory with the MACD line above the signal line and positive histogram bars on the daily chart, suggesting buyers retain momentum even after the pullback from the daily highs of $76,000. Moreover, the Relative Strength Index at 60 on the same chart stays above the midline but below overbought territory, supporting a bullish bias without signaling exhaustion.
On the downside, initial support lies at $72,942, which aligns with the 50-day EMA. Below this area, Bitcoin would be exposed to the pivotal support at $70,000, where a break lower would bring the SuperTrend around $66,500 within reach.
Resistance first appears at Monday's high at $74,909, followed by the weekly high at $76,000. A sustained close above that upper barrier would reassert the dominant uptrend and expose higher targets such as the 100-day EMA at $79,375.
Altcoins technical outlook: Ethereum, XRP rebound cools
Ethereum hovers above the immediate $2,300 support level, with its near-term bias remaining mildly bullish. The 50-day EMA at $2,219 reinforces the short-term bullish outlook, while the SuperTrend indicator aligns with a lower demand zone around $1,981.
Meanwhile, the MACD indicator holds above its signal line on the daily chart, with green histogram bars expanding, prompting investors to lean into risk. Although the RSI shows a minor retreat to 64 on the same chart, it holds above the neutral line, suggesting that bulls still have the upper hand. A further increase of the RSI into overbought territory would strengthen ETH's recovery potential.
Immediate resistance stands at the recent high around $2,377, with a decisive break opening the way toward the 100-day EMA at $2,515.
Above $2,515, the next resistance aligns with the 200-day EMA at $2,836.
As for XRP, traders remain cautiously bullish even as the price trades above levels predicted in this article. The MACD indicator upholds the overall bullish outlook, staying above its signal line as green histogram bars hold steady on the daily chart. Immediate support lies with the 50-day EMA at $1.51, while XRP trades slightly above it.
Still, the SuperTrend indicator continues to hover well above spot near $1.58, keeping the primary trend defensive. At the same time, the RSI at 59 on the same chart retreats from recent highs but stays above the 50 midline, supporting sustained buying interest rather than an immediate reversal.
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A daily close above the 50-day EMA, followed by a decisive break above the SuperTrend indicator, would open the door to gains extending toward the 100-day EMA at $1.70. Below the immediate support at $1.51, XRP would be exposed to the weekly open at $1.45 and Monday's low at $1.43.
Crypto ETF FAQs
An Exchange-Traded Fund (ETF) is an investment vehicle or an index that tracks the price of an underlying asset. ETFs can not only track a single asset, but a group of assets and sectors. For example, a Bitcoin ETF tracks Bitcoin’s price. ETF is a tool used by investors to gain exposure to a certain asset.
Yes. The first Bitcoin futures ETF in the US was approved by the US Securities & Exchange Commission in October 2021. A total of seven Bitcoin futures ETFs have been approved, with more than 20 still waiting for the regulator’s permission. The SEC says that the cryptocurrency industry is new and subject to manipulation, which is why it has been delaying crypto-related futures ETFs for the last few years.
Yes. The SEC approved in January 2024 the listing and trading of several Bitcoin spot Exchange-Traded Funds, opening the door to institutional capital and mainstream investors to trade the main crypto currency. The decision was hailed by the industry as a game changer.
The main advantage of crypto ETFs is the possibility of gaining exposure to a cryptocurrency without ownership, reducing the risk and cost of holding the asset. Other pros are a lower learning curve and higher security for investors since ETFs take charge of securing the underlying asset holdings. As for the main drawbacks, the main one is that as an investor you can’t have direct ownership of the asset, or, as they say in crypto, “not your keys, not your coins.” Other disadvantages are higher costs associated with holding crypto since ETFs charge fees for active management. Finally, even though investing in ETFs reduces the risk of holding an asset, price swings in the underlying cryptocurrency are likely to be reflected in the investment vehicle too.
(The technical analysis of this story was written with the help of an AI tool.)
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