Bitcoin, Ethereum, and XRP Stabilize as Risk Appetite Improves

▲ Bitcoin (BTC), Ethereum (ETH), and XRP / ChatGPT-generated image ©

Bitcoin (BTC) is holding above $68,000, while Ethereum (ETH) and XRP (Ripple) are also maintaining key support levels, signaling a clear resurgence in risk appetite within the cryptocurrency market.

According to investment media outlet FXStreet on February 26 (local time), Bitcoin has stabilized around the $68,000 level and is testing the possibility of breaking through the psychological resistance at $70,000. Ethereum has regained the $2,000 mark, and XRP is continuing its rebound near $1.45. The recent price recovery is attributed to renewed inflows into spot ETFs.

Spot Bitcoin ETFs recorded $507 million in inflows on the 26th alone, following $258 million the previous day, extending strong net inflows. BlackRock’s IBIT led with $297 million, followed by Grayscale’s GBTC with $102 million. Cumulative net inflows have reached $54.57 billion, with average assets under management totaling approximately $867.6 billion. Steady ETF inflows are fueling expectations of increased investor exposure to risk assets.

Spot Ethereum ETFs also saw a sharp rise in inflows, attracting $157 million in a single day compared to $9 million the previous day. Fidelity’s FETH brought in about $62 million, while Grayscale’s ETHE and BlackRock’s ETHA recorded $34 million and $31 million, respectively. Spot XRP ETFs posted $3.09 million in inflows, slightly up from $3.04 million the day before. Cumulative inflows expanded to $1.24 billion, with total assets under management surpassing $1 billion.

Technically, Bitcoin is showing a cautious bullish trend in the short term. On the daily chart, the MACD remains above the signal line, while the RSI has rebounded from the low 40s, indicating a move out of oversold territory. The $70,600 level is identified as the first resistance, and a daily close above $72,271 could open the path toward the 50-day EMA at $76,180. On the downside, $65,631 and $62,510 serve as key support levels.

Ethereum is maintaining the $2,000 level and continuing its recovery from the weekly low of $1,800, with both the MACD and RSI showing gradual improvement. However, it remains below the descending trendline from its all-time high of $4,956, making a breakout above $2,150 crucial. XRP has also rebounded from its weekly low of $1.31 and recovered the $1.45 level. On the daily chart, the MACD maintains a bullish stance, and the RSI has improved to around 46. A break above $1.54 could target the 50-day EMA at $1.63 and the 100-day EMA at $1.84. Conversely, $1.42 and $1.31 are suggested as short-term support levels.

*Disclaimer: This article is for investment reference only and we are not responsible for any investment losses resulting from its use. The content should be interpreted solely for informational purposes.*