Cryptocurrency markets are showing signs of consolidation on Thursday, with Bitcoin (BTC) trading around $80,600 after its recent recovery stalled below $81,000. Ethereum (ETH) remains in a neutral-bullish position, hovering above $2,400, while Ripple (XRP) continues its uptrend for the third consecutive day, trading above $1.32. The crypto market gained momentum amid the United States midterm elections, where Democrats secured a majority in Congress. However, macroeconomic uncertainty persists, with traders pricing in a 79% chance of a 25 basis point interest rate hike by the Federal Reserve in December.
Interest in digital investment products, including spot Exchange-Traded Funds (ETFs), has improved following the Binance hack, which impacted roughly $6.3 billion in assets. Bitcoin spot ETFs recorded approximately $75 million in inflows on Wednesday, breaking a three-day bearish streak. Ethereum spot ETFs saw roughly $53 million in inflows, ending a seven-day outflow streak. Meanwhile, XRP spot ETFs have seen muted activity with mild outflows, but cumulative inflows remain positive at $1.8 billion.
Technical analysis indicates that Bitcoin is holding a mildly bullish bias, trading above key moving averages. Immediate resistance lies at $82,920, with support at $80,166. Ethereum's recovery has stalled, but it remains above critical support levels, with resistance at $2,463 and $2,490. XRP is extending its recovery but faces resistance at $1.34 and $1.36, with support at $1.32.
The broader market outlook remains cautious, with institutional investor interest in crypto ETFs playing a key role in shaping future price movements. The technical indicators suggest improving momentum for Bitcoin and Ethereum, but clear breakout conviction is still lacking.