Bitcoin, Ethereum, Ripple Rally Slows... ETF Fund Inflows Expand

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

While the sharp rally of Bitcoin (BTC), Ethereum (ETH), and XRP (Ripple) has slowed down, the upward trend itself is being maintained. Institutional funds have significantly increased, with $999 million flowing into Bitcoin spot ETFs in one day, while market sentiment has entered 'extreme greed,' increasing the likelihood of short-term profit-taking.

According to investment media FXStreet on September 22 (local time), Bitcoin traded at approximately $85,798, about 49% above its year-to-date low of $57,756. Ethereum and XRP also maintained bullish trends above $2,700 and $1.51, respectively. However, a slight correction appeared after Monday's surge, with profit-taking movements observed ahead of further gains. The Crypto Fear & Greed Index rose from 66 to 70, then to 78, entering the 'extreme greed' zone.

Institutional funds were concentrated in Bitcoin and Ethereum. According to SoSoValue, Bitcoin spot ETFs saw a net inflow of $999 million on Monday, a significant increase from $433 million last Friday. The cumulative net inflow is approximately $56 billion, and net assets are approximately $110 billion. Ethereum spot ETFs also saw an expanded inflow from $144 million last Friday to $270 million on Monday, with cumulative net inflows of approximately $14 billion and net assets of approximately $18 billion. In contrast, XRP spot ETFs saw a net outflow of $44,000 on Friday, followed by no fund movement on Monday. Cumulative inflows are $1.7 billion, and net assets are approximately $1.62 billion.

At the time of writing, Bitcoin was trading at $85,546, maintaining its breakout above the descending resistance trendline near $80,873. The Supertrend support level was at $78,333, while the 50-day Exponential Moving Average (EMA) was at $75,428, the 200-day EMA at $73,677, and the 100-day EMA at $72,605. The Moving Average Convergence Divergence (MACD) histogram remained in positive territory, but the Relative Strength Index (RSI) climbed just below the overbought zone, indicating strong upward momentum while also suggesting the possibility of short-term profit-taking.

Ethereum maintained its upward structure, trading at $2,733, above its 50-day EMA of $2,355, 100-day EMA of $2,211, and 200-day EMA of $2,234. The Supertrend supported it at approximately $2,434, and the RSI was 68, with MACD also showing a positive trend above its signal line. In case of a decline, $2,733 and $2,434 were suggested as primary support levels, followed by $2,355, $2,234, and $2,211 as additional support zones.

XRP also continued its bullish trend, trading at $1.53, above its major moving averages. The Supertrend was at $1.26, the RSI was 65, and the MACD histogram remained in positive territory. In case of a decline, the 200-day EMA at $1.36 and the 50-day EMA at $1.32 were primary support levels, and if further correction occurs, the 100-day EMA at $1.28 and the Supertrend at $1.26 were suggested as the next support zones. While major cryptocurrencies maintain their upward structure amid institutional fund inflows into Bitcoin and Ethereum, investor sentiment entering extreme greed and a high RSI were cited as factors to be wary of for a short-term correction.

*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.*