Bitcoin, Ethereum, XRP Rebound Continues, ETF Fund Inflows Expand

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

Bitcoin, Ethereum, and XRP are continuing their rebound, fueled by ETF fund inflows, and a 'bullish scenario' is once again forming across the broader market.

According to investment media FXStreet on May 5 (local time), Bitcoin (BTC) has re-established $80,000 as a support level and is continuing its upward trend near $81,000, while Ethereum (ETH) is testing the $2,400 resistance zone. XRP (Ripple) is also strengthening its short-term momentum, rising for two consecutive trading days near $1.41.

The overall market sentiment is being driven by improved investor confidence and expanding ETF fund inflows. The Fear & Greed Index rose from 40 to 50 the previous day, still remaining in the 'fear' zone, but it is interpreted as a sign of recovering appetite for risk assets. Analysis suggests that if this index rises further, investor confidence will be strengthened, increasing the likelihood of continued upward momentum.

Actual fund flows also support this. Bitcoin spot ETFs recorded an inflow of $532 million in one day, expanding the cumulative inflow to $59.25 billion and assets under management to $106.44 billion. Ethereum spot ETFs also recorded net inflows for two consecutive days with an inflow of $61 million, surpassing a cumulative $12.08 billion. XRP spot ETFs also turned positive again with an inflow of $3.87 million, reaching a cumulative $1.29 billion.

Technically, Bitcoin maintains an upward structure above the 50-day and 100-day moving averages, showing strong momentum with a Relative Strength Index (RSI) of 68. However, the 200-day moving average, around $82,147, is acting as a key short-term resistance. A breakthrough above this level could open the door for further gains. Below, the $78,000-$80,000 range remains a major support level.

Ethereum is trading around $2,380 and remains above the 50-day and 100-day moving averages, giving it a structurally stable upward foundation, but the 200-day moving average at $2,549 acts as overhead resistance. XRP shows a trend aligned with the 50-day moving average at $1.41, maintaining its short-term rebound, but the downtrend line near $1.50 and the 100-day moving average remain strong resistance zones, indicating that confirmation is needed for further gains.

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