Cryptocurrency prices show signs of recovery on Tuesday after a volatile session the previous day, driven by uncertainty regarding tariffs and trade tensions between the United States and its trading partners. Bitcoin (BTC) is trying to stabilize above $108,000 after macroeconomic tensions caused a drop to $107,429 earlier in the day.
Altcoins, including Ethereum (ETH) and Ripple (XRP), are currently holding above critical support levels, which could trigger the next technical breakout.
Market update: tensions regarding tariffs keep Bitcoin and altcoins in a state of anticipation
The 90-day comment period on tariffs announced by U.S. President Donald Trump is set to end on Wednesday, with the possibility that countries that have not reached trade deals will receive detailed messages regarding higher-than-expected rates expected to take effect on August 1. CNN reported on Tuesday that some countries have already been notified of the high tariff rates, which could reach up to 40%.
China has warned the United States against reigniting trade tensions by re-imposing tariffs on its goods, effective August 1. The Asian economic giant has pledged to respond to countries that strike trade deals with the U.S. that harm Beijing's interests, according to a report from Reuters.
The United States and China agreed on a trade framework after negotiations in June, restoring a fragile ceasefire. However, the details of the trade agreement remain unclear, leaving traders from both countries in a state of uncertainty.
U.S. President Trump indicated the imposition of an additional 10% tariff on countries allied with the BRICS economic movement.
Highlighting the data: institutional interest remains high with inflows into Bitcoin exchange-traded funds
Digital asset products saw weekly flows of $1.04 billion, according to a CoinShares report released every Monday. Bitcoin-linked financial products recorded inflows of $790 million last week, with about $226 million entering Ethereum investment assets.
Digital asset product flow statistics
Despite the positive inflows, CoinShares noted a slowdown compared to the previous three weeks, which averaged $1.5 billion, indicating a cautious approach from investors as the price approaches all-time highs.
"The decline in flows indicates that investors have become more cautious as Bitcoin approaches its record price levels," according to a CoinShares report.
Bitcoin exchange-traded funds have maintained positive daily flows since July 2, recording about $217 million in net flow volume on Monday.
The cumulative net flow total is approaching the $50 billion mark, having reached $49.86 billion as of Monday. The total net assets of 12 licensed exchange-traded funds in the U.S. are approximately $136 billion, according to SoSoValue.
Data on Bitcoin exchange-traded funds
Daily chart: Bitcoin presents mixed technical signals
The price of Bitcoin is trading around $108,441 at the time of writing this report as it recovers from its daily low of $107,429. The largest cryptocurrency by market capitalization remains above the recently broken downward trendline.
If the price can stabilize above this level, the bulls will have enough time to gather liquidity before another attempt to break resistance at around $110,527, which capped price movement last week.
Bitcoin also remains significantly above key moving averages, including the 50-day exponential moving average, which is currently $105,259, the 100-day exponential moving average at $101,500, and the 200-day exponential moving average at $95,641. This outlook supports the idea of a stable technical structure, which could pave the way for further gains and also serve as temporary support levels in case of a directional reversal.
Daily chart for the BTC/USDT pair
The path of least resistance appears to be upward based on a slight bullish bias shown by the MACD buy signal. Traders tend to seek exposure as the blue MACD line remains above the red signal line.
However, the downward movement of the Money Flow Index (MFI) at 55 indicates that money is leaving Bitcoin, which could hinder the expected bullish breakout.
Update on altcoins: Ethereum and XRP continue to consolidate
The price of Ethereum has maintained a bullish outlook, even as it consolidates broadly above support provided by key moving averages, including the current 200-day exponential moving average at $2,474, the 50-day exponential moving average at $2,458, and the 100-day exponential moving average at $2,402.
The MACD indicator provides a bullish signal, as the blue line remains above the red signal line. Traders should maintain exposure as long as the MACD indicator continues to trend upwards, encouraging risk sentiment.
A breakout above the notable resistance at $2,633, which was tested on Thursday, could extend the bullish range toward $2,880, the level that constrained the price in June, and the psychological resistance at $3,000.
Daily chart for ETH/USDT
As for XRP, the bulls are still in control, with the price trading around $2.29. The path of least resistance appears to be upward, with the MACD indicator showing a buy signal since Saturday. Support is provided by the 100-day exponential moving average, currently at $2.22, and the 50-day exponential moving average, which is slightly below at $2.21.
Daily chart for XRP/USDT
The downward trendline, which has been maintained since XRP reached its all-time high of $3.40 in January, is the biggest bottleneck facing the bulls.
A breakout above this critical level could trigger an upward trend as traders extend the bullish range to $2.65, the highest peak in May, with a target at the round number of $3.00.
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