 ▲ Bitcoin (BTC), Ethereum (ETH), and XRP / ChatGPT-generated image © |
As Bitcoin consolidates around the $67,000 level, Ethereum and XRP (Ripple) have successfully defended key support levels and are showing signs of a short-term rebound.
According to investment-focused media outlet FXStreet on February 12 (local time), the cryptocurrency market has been gradually stabilizing after Bitcoin (BTC) plunged to $60,000 last week. However, with risk-off sentiment not yet fully resolved, Bitcoin continues to fluctuate near $67,000 without securing clear upward momentum.
Institutional fund flows remain a burden. According to SoSoValue data, as of the 12th, spot Bitcoin ETFs recorded net outflows of approximately $276 million, snapping a three-day streak of inflows. Cumulative net inflows stand at $54.72 billion, with total net assets reaching $85.76 billion. Spot Ethereum (ETH) ETFs also saw $129 million in outflows on the same day, bringing cumulative net inflows to $11.75 billion and net assets to $11.27 billion. Meanwhile, spot XRP ETFs recorded no inflows or outflows that day, with cumulative net inflows of $1.23 billion and net assets of about $993 million.
From a technical perspective, Bitcoin’s daily chart shows the Relative Strength Index (RSI) recovering to 30, signaling a move out of oversold territory. However, the Moving Average Convergence Divergence (MACD) indicator remains below the signal line, suggesting that bearish momentum has not fully dissipated. If Bitcoin closes below $67,000 on a daily basis, a retest of $65,756 remains possible.
Ethereum has rebounded above $1,900 and is approaching the psychological resistance level of $2,000. The RSI has risen to 31, indicating easing selling pressure, though the MACD remains in bearish territory. Analysts suggest that a daily close above $2,000 is needed to retest the February 4 high of $2,296. XRP is attempting to break above $1.40. Its RSI has climbed to 35, and the MACD is narrowing the gap with the signal line, reflecting weakening bearish momentum. However, XRP remains below its 50-day exponential moving average at $1.78, 100-day at $1.98, and 200-day at $2.17. With all three moving averages sloping downward, the medium-term trend is still considered bearish.
Ultimately, the market is seeking balance amid conflicting signals of defended support levels and ongoing institutional outflows. While the possibility of a short-term rebound remains open, analysts note that additional momentum will be needed to break through upper resistance levels as long as cautious sentiment toward risk assets persists.
Disclaimer: This article is for informational purposes only and does not constitute investment advice. The publisher is not responsible for any investment losses incurred based on this information.