Bitcoin and Altcoins Show Signs of Stability
Bitcoin (BTC) is trading above $87,000 as of Wednesday. After several weeks of declines, buyers are pushing for a stable price. Major altcoins like Ethereum (ETH) and Ripple (XRP) are also holding above their key support levels.
The continuation of this recovery depends on demand from both institutional and retail investors. However, market uncertainty and economic factors remain challenges for a strong rally.
Crypto ETF Inflows Signal Growing Institutional Interest
U.S.-listed crypto Exchange-Traded Funds (ETFs) saw inflows on Tuesday, showing that institutional investors are becoming more interested again.
- Bitcoin ETFs received $128 million in new investment on Tuesday.
- Ethereum ETFs saw their third day of inflows, with a total of about $79 million on Tuesday.
- Top Ethereum ETFs include Fidelity’s FETH with $48 million and BlackRock’s ETHA with $46 million in inflows.
- XRP ETFs, now four in number, gained $35 million on Tuesday.
These steady inflows suggest growing confidence among big investors in crypto ETF products.
Technical Trends and Market Outlook
Bitcoin faces pressure as it trades below $87,000 after reaching a high near $88,224 on Wednesday. It remains under key moving averages, which points to bearish market momentum.
Ethereum is close to its support level at $2,900. Two bearish crossovers in its moving averages suggest more pressure ahead, although a recent buy signal could help it recover above $3,000 if demand increases.
XRP trades near $2.18, below its key averages which are acting as resistance. A bullish signal in its momentum indicator gives some hope, but overall upward movement may stay limited for now.
