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▲ Bitcoin (BTC), Ethereum (ETH), XRP (XRP)/ChatGPT generated image ©
While Bitcoin (BTC) faces a challenging support test around the $80,000 mark, the trajectories of major coins are diverging. Unlike Bitcoin and XRP, which have seen a resumption of institutional capital inflows, Ethereum has experienced asset outflows for four consecutive days.
According to investment media FXStreet on May 15 (local time), Bitcoin (BTC) is currently trading around $80,676 as of Friday, attempting to break past its 200-day exponential moving average (EMA) of $81,743. After experiencing outflows exceeding $860 million over the past two days, the Bitcoin spot ETF market saw approximately $131 million in institutional funds flow back in on Thursday, setting the stage for a potential reversal. However, the Moving Average Convergence Divergence (MACD) histogram is tilting deeper into negative territory, suggesting somewhat limited short-term upward momentum.
XRP (Ripple) is showing the most notable recovery among the major coins. On Thursday, approximately $19 million flowed into the XRP spot ETF, pushing its total assets under management to a four-month high of over $1.25 billion. Currently trading around $1.46, XRP has established its 50-day EMA of $1.42 as a strong support level, and its Relative Strength Index (RSI) stands at 58, indicating healthy energy for further upside. Experts believe that if it breaks through the $1.49 resistance level, a bullish rally could extend to around $1.71.
In contrast, Ethereum (ETH) is struggling, recording outflows from its spot ETF for four consecutive days. On Thursday, another approximately $6 million exited, intensifying the cumulative outflow. Open interest in the futures market also plummeted from $34.8 billion the previous day to $32.7 billion, signaling wavering investor confidence. Ethereum is currently hovering around $2,258, trapped beneath a thick resistance wall formed by the confluence of its 50-day, 100-day, and 200-day EMAs. Technical warnings are mounting that if the capital exodus doesn't cease, it could be pushed down to the $2,000 demand zone.
Overall, the market attempted a rebound after the U.S. Senate Banking Committee passed the CLARITY Act but has entered a stalemate, blocked by key resistance levels. For Bitcoin, whether it can firmly establish itself above $81,743 will be a watershed moment determining the sustainability of its future bull run. While indicators like the RSI currently show positive signals, the Parabolic SAR indicator (at $82,688) positioned above continues to act as a strong ceiling, suppressing the price.
In conclusion, the cryptocurrency market is showing a clear "decoupling" phenomenon between Bitcoin and XRP, which have seen institutional funds return, and Ethereum, which remains alienated. Experts diagnose that as long as the support levels of $80,000 for Bitcoin and $1.42 for XRP are maintained, the current correction could be a process of absorbing selling pressure for further gains. Ahead of the weekend market, investors should carefully monitor whether Ethereum's open interest recovers and when Bitcoin reclaims its 200-day EMA, maintaining a cautious approach.
*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.*
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