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

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

Bitcoin, Ethereum, and XRP continue their rebound, fueled by ETF fund inflows, leading to the formation of an 'uptrend scenario' across the broader market.

According to investment media FXStreet on May 5 (local time), Bitcoin (BTC) has re-secured $80,000 as a support level and is maintaining an 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 around $1.41.

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

Actual fund flows also support this. Bitcoin spot ETFs recorded $532 million in inflows in one day, expanding cumulative inflows to $59.25 billion and assets under management to $106.44 billion. Ethereum spot ETFs also recorded net inflows for two consecutive days with $61 million in inflows, surpassing a cumulative $12.08 billion. XRP spot ETFs also turned positive again with $3.87 million in inflows, recording 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 around 68. However, the 200-day moving average, approximately $82,147, is acting as a key short-term resistance. A breakthrough above this level could open the door for further gains. At the lower end, the $78,000-$80,000 range is maintained as a major support level.

Ethereum is trading around $2,380 and remains above its 50-day and 100-day moving averages, structurally providing a stable base for an uptrend, but the 200-day moving average at $2,549 acts as overhead resistance. XRP is showing a short-term rebound around $1.41, aligning with its 50-day moving average. However, the downtrend line near $1.50 and the 100-day moving average remain strong resistance zones, indicating that confirmation is needed for further gains.

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