Crypto Market Sees Faint Recovery Signs Amid Mixed ETF Flows
The cryptocurrency market shows faint signs of recovery after days of decline, led by Bitcoin's (BTC) rise to $78,000. Ethereum (ETH) and XRP have also trended higher above $2,400 and $1.37 respectively.
The uptick in prices comes despite mixed ETF flows, with Bitcoin attracting inflows totaling $101 million on Wednesday, while Ethereum and XRP saw outflows of $48 million and $7 billion respectively.
Despite this, market sentiment remains relatively elevated, reflected in the Fear & Greed Index, which rose to 65 in the Greed territory on Thursday.
Technical analysis suggests that Bitcoin's rebound is supported by its near-term bias and momentum, with immediate support at the current pivot zone around $78,000. Ethereum's price also consolidates well above its short-, medium- and long-term EMAs, while XRP holds above major moving averages.