Bitcoin Holds Above $92,000 as Market Volatility Eases
Bitcoin (BTC) is trading above $92,000 on Friday. The cryptocurrency market is calming down after the Federal Reserve’s recent interest rate cut. Ethereum (ETH) is recovering and trading above $3,200. Ripple (XRP) is struggling to stay above the key $2.00 support level.
XRP ETFs See Strong Inflows Despite BTC and ETH Outflows
- XRP spot ETFs saw inflows for the 19th day in a row, adding about $16 million on Thursday.
- The total XRP ETF inflows are nearly $971 million, close to the $1 billion mark.
- XRP ETFs currently hold net assets of around $930 million.
- Bitcoin spot ETFs had about $77 million in outflows on Thursday.
- Fidelity’s FBTC ETF recorded the largest outflows at $104 million.
- BlackRock’s IBIT and Bitwise’s BITB ETFs had inflows of $77 million and $8 million, respectively.
- Bitcoin ETFs have total inflows near $57.85 billion and net assets close to $120 billion.
- Ethereum spot ETFs posted $42 million in outflows on Thursday, ending a three-day inflow streak.
- Grayscale’s ETHA had the largest outflows of $31 million, while 21Shares’ TETH saw $2 million in inflows.
- Ethereum ETFs hold total inflows of $13.11 billion and net assets of $20.31 billion.
Bitcoin and Altcoins Technical Update
Bitcoin’s momentum looks positive, trading above $92,000 with bullish signals from the MACD indicator. A break above $94,150 may lead to a rise toward $96,466, the 50-day moving average. Bulls need to keep this level as support to target $100,000. However, the RSI is below 50, signaling possible weakening momentum and risk of a drop below $90,000.
Ethereum trades just above $3,200 but below key moving averages, showing a bearish trend. The MACD is close to turning bullish, supported by recent buy signals. The RSI at 54 suggests some short-term strength. A close above the 50-day moving average at $3,310 could help push prices higher. Failing that, Ethereum may fall toward $3,000.
XRP remains near $2.00 but below several moving averages, indicating a bearish stance. The MACD is weak, with neutral momentum shown by small green bars. The RSI at 42 suggests limited upward moves. A close above $2.24 is needed to ease selling pressure. Otherwise, sellers may keep XRP under control below key resistance levels.
