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▲ Bitcoin (BTC), Ethereum (ETH), XRP (XRP)/ChatGPT generated image ©
As Bitcoin (BTC) undergoes a challenging support test at the $80,000 level, major coins are diverging: Bitcoin and XRP are seeing a resumption of institutional capital inflow, while 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, laying the groundwork for a turnaround. 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 major coins. On Thursday, approximately $19 million flowed into XRP spot ETFs, pushing the total assets under management to a four-month high of $1.25 billion. Currently trading around $1.46, XRP has secured its 50-day EMA of $1.42 as a solid support level, and its Relative Strength Index (RSI) of 58 indicates healthy energy accumulating for further gains. Experts believe that if it breaks through the resistance level of $1.49, a bullish rally could extend to the $1.71 level.
Conversely, Ethereum (ETH) is struggling, recording four consecutive days of outflows from its spot ETFs. On Thursday, another approximately $6 million exited, deepening the cumulative outflow trend, and open interest in the futures market also sharply declined from $34.8 billion the previous day to $32.7 billion, signaling wavering investor confidence. Currently, Ethereum is hovering around $2,258, trapped below a thick resistance wall formed by the convergence of its 50-day, 100-day, and 200-day EMAs. Technical warnings are mounting that if capital outflows do not 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 entered a stalemate, being 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 the future bull market. While indicators such as the RSI currently show positive signals, the Parabolic SAR indicator positioned above ($82,688) continues to act as a strong ceiling, suppressing the price.
In conclusion, a clear 'decoupling' phenomenon is emerging in the virtual asset market between Bitcoin and XRP, which have seen institutional funds return, and Ethereum, which is being left behind. Experts diagnose that as long as the $80,000 support level for Bitcoin and $1.42 for XRP are maintained, the current correction could be a process of absorbing selling pressure for an upward move. Investors should closely monitor the recovery of Ethereum's open interest and Bitcoin's recapture of its 200-day EMA, maintaining a cautious approach ahead of the weekend market.
*Disclaimer: This article is for investment reference only and does not take responsibility for investment losses based on it. The content should be interpreted for informational purposes only.*
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