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Crypto Market Recovers Amid Cautious Sentiment Ahead of Key Economic Data

Guavy AI Editorial Team
Instruments
BTC XRP
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The cryptocurrency market is showing signs of recovery on Thursday, led by Bitcoin's rise near $78,000. This follows persistent declines from the August peak near $81,500. Ripple (XRP) bulls are attempting a recovery above $1.36, underpinning a strong moving average support cluster.

Market participants remain cautious ahead of key economic data on Friday, which could provide fresh clues on the Federal Reserve's policy path and determine Bitcoin's next directional move. Institutional demand supports this range-bound price action, with spot Exchange-Traded Funds (ETFs) recording mixed flows so far this week.

The re-escalation of tensions between the United States and Iran has led to risk aversion, with outflows from spot ETFs on Wednesday. Despite this, Ripple's 200-day EMA support holds, giving bulls hope for a recovery.

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