Bitcoin rises to over $118,000, leading to the liquidation of short positions worth $635 million.
Ethereum bulls are pushing for a price movement above $3,000, supported by institutional interest in commodity ETFs.
The global risk appetite in the cryptocurrency market supports XRP's rise to $2.76.
The cryptocurrency market expects a rise, especially Bitcoin (BTC), which touched a new all-time high of $118,870 on Friday. Investors are also optimistic about the largest altcoins, which are recovering.
ETH is trading near a psychological resistance at $3,000, supported by retail and institutional traders. Technical indicators support Ripple's (XRP) advance towards the $2.76 level.
Bitcoin is under less selling pressure than before. Despite Bitcoin reaching new all-time highs, CryptoQuant data shows that inflows to exchanges average 18,000 BTC, the lowest amount since April 2015.
"Large investors are also reducing activity: the daily BTC volume sent to exchanges in batches of 100+ BTC has dropped from 62,000 BTC on November 26, 2024, to just 7,000 BTC today," CryptoQuant said on Thursday.
The daily net inflow for Bitcoin ETFs reached $1.18 billion on Thursday, the second-largest inflow ever.
Profit-taking can lead to a quick reversal in direction, so traders should be cautious. Decline targets include $115,112, which was tested as support on Friday, and the previous high at $111,890.
Ethereum regains $3,000, and XRP continues to rise.
Ethereum broke the $3,000 barrier, rising to $3,024 at the time of writing. Its technical outlook is good, with a buy signal appearing in the MACD indicator on July 2. With institutional investor interest stabilizing, ETH could rebound towards key targets around $3,229, which temporarily contained the price increase in November, and $3,530, which supported price movement in December.
Like Bitcoin, XRP bulls reclaimed support at $2.60. The cross-border token remains popular among traders seeking exposure and betting on breaking through the psychological barrier at $3.00.
#BTCBreaksATH #TrumpTariffs #BinanceTurns8 #xrp #ETHBreaks3k $BTC