Selling Pressure Eases…Bitcoin, Ethereum, XRP Rebound Together

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

As Bitcoin holds just shy of $80,000, Ethereum and XRP are also rebounding, signaling a 'quiet recovery' across the market.

According to investment media FXStreet on May 4 (local time), Bitcoin (BTC) is trading around $79,765, attempting to break above $80,000. Ethereum (ETH) continues its rally for the fifth consecutive trading day at $2,361. XRP (Ripple) has recovered to $1.41, showing signs of establishing support above its 50-day exponential moving average.

In the derivatives market, a resurgence in risk appetite is being observed. Bitcoin futures open interest has steadily increased to $58.63 billion, up from $57.74 billion the previous day and $53.96 billion last Friday. Analysis suggests that if funds continue to flow in, the possibility of breaking the $80,000 resistance level will gradually increase.

Ethereum is also seeing expanding demand in the derivatives market. Futures open interest increased to $31.69 billion from $30.95 billion the previous day, confirming a recovery in demand primarily driven by retail investors. However, this is still low compared to the historical high of $70.13 billion, indicating that the upward trend is gradual and moderate.

In contrast, XRP's derivatives demand is relatively limited. Open interest stands at approximately $2.5 billion, significantly lower than the $10.94 billion recorded in July 2025. This suggests that the market lacks confidence in the short-term sustainability of its upward trend. This can be interpreted as a reflection that retail investor sentiment has not fully recovered.

Technically, the trends are mixed. Bitcoin maintains an upward structure, trading above its 50-day and 100-day moving averages, but resistance at the 200-day moving average of $81,894 remains. For Ethereum, the $2,400 to $2,571 range acts as a major resistance. For XRP, whether it can break through the $1.51 to $1.74 range is identified as a key variable determining its medium-term direction. Overall, selling pressure has eased, but further confirmation is needed before a full transition to an upward trend.

*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*