Bitcoin Edges Above $92,000 Ahead of Fed Decision
Bitcoin (BTC) is trading slightly above $92,000 on Monday. Market sentiment is improving before the Federal Reserve’s policy decision on Wednesday. Altcoins like Ethereum (ETH) and Ripple (XRP) are also rising. Ethereum nears $3,200, while XRP moves above $2.10 after bouncing from $2.00 support.
Bitcoin ETF Inflows and Market Data
Bitcoin spot ETFs saw inflows of nearly $55 million on Friday. This follows two days of outflows totaling $210 million on Wednesday and Thursday. The total ETF inflow volume is $57.62 billion, with net assets at $117 billion. These inflows help support positive sentiment and Bitcoin’s uptrend.
However, retail demand remains low. Futures Open Interest (OI) rose to $57.16 billion on Monday, up from $56.32 billion the day before. But this is far below the October 7 record of $94.12 billion.
Ethereum ETFs had outflows of $75 million on Friday and $42 million on Thursday. BlackRock’s ETHA ETF was the only US-listed Ethereum ETF with outflows on Friday. Total ETH ETF inflows remain at $12.88 billion, with net assets of $18.94 billion.
XRP spot ETFs are performing strongly. They have had inflows for 15 days straight since launching on November 13. XRP ETFs added $10 million on Friday. Total inflows now reach $897 million, with net assets of $861 million.
Technical Outlook for Bitcoin, Ethereum, and XRP
Bitcoin bulls are working to maintain control above $92,000. The daily chart shows a buy signal from the Moving Average Convergence Divergence (MACD) indicator since November 26. The Relative Strength Index (RSI) stands at 48, indicating growing bullish momentum.
Still, Bitcoin faces resistance at key moving averages: the 50-day EMA ($97,238), 100-day EMA ($102,593), and 200-day EMA ($103,953). A drop below $90,000 could push prices toward support near $87,719.
Ethereum is recovering above $3,100. Bulls aim to break a descending resistance line. The RSI crossed above 50, and the MACD has a buy signal since November 25. A rise above the 50-day EMA ($3,316) could boost bullish sentiment. Resistance lies at the 200-day EMA ($3,459) and 100-day EMA ($3,521) on the path to $4,000.
XRP is above $2.10 after holding support at $2.00. The RSI approaches the neutral 50 level. Resistance appears at the 50-day EMA ($2.27), 100-day EMA ($2.43), and 200-day EMA ($2.47). XRP must push these levels into support to sustain its upward trend. A drop below $2.00 remains a risk.
