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Bitcoin (BTC) is trading above $80,000 on Tuesday. This is the highest level the Crypto King has traded since mid-May, underscoring a positive shift in investors’ risk-on sentiment, liquidity conditions and the technical outlook.
Ethereum (ETH) follows in Bitcoin’s footsteps, hovering near $2,500 while bulls target a potential breakout past $2,600. Meanwhile, Ripple (XRP) is holding onto last week’s gains, trading around $1.50.
BTC, ETH and XRP stay strong amid steady ETF inflows
Bitcoin continues to perform well, following last week’s remarkable rally. This renewed bullish momentum stems from several factors, including the United States (US) Treasury’s long-term bond buybacksand broader risk-on sentiment after the Securities and Exchange Commission (SEC) doubled down on efforts to establish clearer regulatory guidelines for the industry.
“Bitcoin and the broader digital asset market staged a strong relief rally, driven by two clear catalysts: the US Treasury’s actions and renewed momentum from the SEC toward establishing a clearer regulatory framework for the industry,” Crypto Finance AG said in a comment to FXStreet.
US-listed Bitcoin Exchange-Traded Funds (ETFs) have logged six straight days of inflows, totaling $2.26 billion, reinforcing growing risk appetite among institutional investors. Inflows totaled $338 million on Monday, growing slightly from Friday’s $307 million. Cumulative inflows currently stand at $54 billion, with net assets under management at $99 billion
Investor interest in Ethereum spot ETFs is growing, as evidenced by roughly $116 million in inflows recorded on Monday. This marks the sixth consecutive day of inflows, underscoring positive sentiment surrounding crypto-related investment products. Cumulative inflows stand at $12.27 billion, increasing from $12.15 billion over the same period. Meanwhile, assets under management total $14.74 billion.
After months of extreme fear, the crypto Fear & Greed Index remains elevated at 73 in the Greed territory on Tuesday, up from the previous day’s 66 and last week’s 33. This shows that investors are inclined to continue increasing risk exposure.
As for XRP spot ETFs, inflows narrowed to about $14 million on Monday from $18 million the day before. Despite the minor correction, the token has sustained a steady inflow streak since last Tuesday, backing its recovery from $1.00 to highs around $1.70 on Saturday before moderating to the current $1.50 area.
Technical analysis: Bitcoin upholds bullish momentum
Bitcoin trades at $80,776, maintaining a firm bullish bias as price holds well above the 50-day, 100-day, and 200-day Exponential Moving Averages (EMAs), clustered between roughly $67,400 and $71,900. The reclaimed downward resistance trendline, which was broken near $62,562, now lies well below spot and reinforces the broader uptrend.
Momentum remains overheated, with the Relative Strength Index (RSI) hovering deep in overbought territory near 84, while the Moving Average Convergence Divergence (MACD) stays positive and elevated, suggesting upside pressure persists but the rally is becoming stretched.
Initial support lies at the recent breakout and current-price pivot zone around $80,000. A deeper pullback would expose the 200-day EMA near $71,880 as the next key cushion, followed by the 100-day EMA at $67,709 and the 50-day EMA at $67,392, while the prior trendline break area around $62,562 offers a more distant structural floor. On the topside, the next notable resistance lies at key psycholgical levels including $84,000 and $88,000, respectively.
Altcoins tehcnical outlook: Ethereum and XRP bulls tighten grip
Ethereum holds a firm bullish bias as price extends well above the 50-day, 100-day and 200-day EMAs clustered between roughly $2,000 and $2,150, suggesting a mature uptrend with substantial underlying demand.
Momentum remains strong, with the MACD firmly positive and above its signal line while the RSI hovers near 80, hinting at overbought conditions that could slow the pace of gains even if the broader bullish structure stays intact.
Initial support lies at the 200-day EMA near $2,146, with the 50-day EMA around $2,006 and the 100-day EMA near $1,985 providing a deeper demand band if a corrective pullback unfolds. As long as ETH holds above this EMA cluster, dips are likely to be viewed as corrective within the broader uptrend, while the absence of nearby overhead resistance on the daily chart suggests any extension higher would primarily be governed by momentum, psycholgical levels and profit-taking rather than well-defined structural caps.
Meanwhile, XRP holds well above the 50-day, 100-day and 200-day EMAs, reinforcing a strong bullish near-term bias as price extends its advance away from these dynamic support lines. The RSI hovers deep in overbought territory near 81, while the MACD remains positive with the line above its signal and the histogram still elevated, suggesting persistent but potentially stretched upside momentum.
Initial support emerges at the 200-day EMA around $1.35, where a correction could first pause if buyers defend the broader uptrend. A deeper pullback would expose mid-range EMA supports near $1.19 and $1.16, which align with prior consolidation levels and would likely attract dip-buying interest as long as the broader bullish structure remains intact.
(The technical analysis of this story was written with the help of an AI tool.Know more.)
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.
John Isige is a seasoned cryptocurrency journalist and markets analyst committed to delivering high-quality, actionable insights tailored to traders, investors, and crypto enthusiasts.
He enjoys deep dives into emerging Web3 tren
Source: www.fxstreet.com