Key Moments
- Bitcoin (BTC) trades above $95,000 as ETF inflows and improving sentiment support a short-term bullish setup.
- Spot Bitcoin, Ethereum, and XRP ETFs posted strong single-day inflows, lifting total assets across the sector.
- Technical signals for BTC, ETH, and XRP suggest near-term upside, although key resistance levels remain in focus.
ETF Flows Reinforce Positive Sentiment in BTC, ETH, and XRP
Bitcoin (BTC) trades above $95,000 on Wednesday, supported by improving risk sentiment across the crypto market. Meanwhile, major altcoins such as Ethereum (ETH) and Ripple (XRP) are holding a portion of the gains from Tuesday’s macro-driven rally.
Spot Bitcoin ETFs recorded $753 million in net inflows on Tuesday, marking the strongest single-day total since October. This surge followed softer-than-expected US core inflation data released by the Bureau of Labor Statistics.
As a result, cumulative inflows into spot Bitcoin ETFs climbed to $57.27 billion, with net assets reaching $123 billion. Notably, none of the nine spot BTC products posted outflows. Fidelity’s FBTC led with $351 million, followed by Bitwise’s BITB at $159 million and BlackRock’s IBIT at $126 million.
| Bitcoin ETF | Ticker | Single-day inflow (Tuesday) |
|---|---|---|
| Fidelity | FBTC | $351 million |
| Bitwise | BITB | $159 million |
| BlackRock | IBIT | $126 million |
Ethereum spot ETFs also extended their positive streak for a second day. On Tuesday alone, they attracted roughly $130 million in inflows. BlackRock’s ETHA led with $53 million, followed by Grayscale’s ETH at $35 million and Bitwise’s ETHW at about $23 million.
Consequently, cumulative inflows into Ethereum spot ETFs reached $12.57 billion, while net assets rose to $19.62 billion.
| Ethereum ETF | Ticker | Single-day inflow (Tuesday) |
|---|---|---|
| BlackRock | ETHA | $53 million |
| Grayscale | ETH | $35 million |
| Bitwise | ETHW | About $23 million |
At the same time, interest in XRP spot ETFs continues to build. Data from SoSoValue shows nearly $13 million in inflows on Tuesday. Since launching in November, XRP ETFs have recorded only one outflow event. As a result, cumulative inflows now stand at $1.25 billion, with net assets at $1.54 billion.
Bitcoin Technical Picture: Bulls Target $100,000
Bitcoin surged from Tuesday’s open at $91,296 to an intraday high of $96,495. As of Wednesday, it continues to trade above $95,000. On the daily chart, the MACD remains in a buy signal triggered on December 21, which supports bullish momentum.
Moreover, the green MACD histogram sits above the zero line. This setup may encourage additional risk-taking and raise the odds of a move toward $100,000.
A daily close above the 100-day EMA at $95,987 would strengthen the bullish bias. However, traders are also watching resistance at the 200-day EMA near $99,581.
That said, momentum may slow in the near term. The RSI has slipped from recent highs and now sits at 65. A move back toward the 50 level would signal fading momentum and increase the risk of a pullback toward $90,000.
Ethereum Eyes Break Above 200-day EMA
Ethereum trades above $3,300, supported by the 100-day EMA near $3,288. Meanwhile, the MACD remains constructive, with expanding green histogram bars reinforcing the bullish tone.
To extend gains, ETH must clear resistance at the 200-day EMA around $3,339. If buyers succeed, the next upside target sits near $3,447, last tested in December.
The RSI remains steady at 65, signaling consolidation. A renewed uptick would favor bulls, while a downturn could open the door for a retracement toward $3,000.
XRP Consolidates Below Key Resistance
XRP continues to trade below the 100-day EMA at $2.21 and the 200-day EMA at $2.33. However, it holds above the 50-day EMA support near $2.08.
The RSI has eased to 57, suggesting sellers retain some control. A further decline would likely trigger a retest of the 50-day EMA.
Still, the MACD shows mild positive divergence. This signal could attract cautious buyers. Even so, XRP needs a clear break above $2.21 to support a potential 5% move toward $2.33.
Crypto ETF Basics: Key Concepts
What is an ETF?
An Exchange-Traded Fund (ETF) tracks the price of an asset or group of assets. For example, a Bitcoin ETF follows Bitcoin’s price and allows investors to gain exposure without direct ownership.
Are Bitcoin futures ETFs approved?
Yes. The SEC approved the first Bitcoin futures ETF in October 2021. Several products now trade in the US, although regulators continue to flag concerns around market manipulation.
Are Bitcoin spot ETFs approved?
Yes. In January 2024, the SEC approved multiple Bitcoin spot ETFs. This decision opened the door to broader institutional participation and marked a major milestone for the industry.
Pros and Cons of Crypto ETFs
Crypto ETFs offer exposure without custody risks, which lowers the barrier to entry. They also provide added security and operational simplicity.
However, investors do not own the underlying assets directly. In addition, ETFs charge management fees and still reflect the volatility of the underlying cryptocurrency.
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