After taking profits and the Fed sending hawkish signals, BTC, ETH, and XRP all went back up.
Bitcoin bulls are trying to break over the $115,000 resistance level and hit $118,000, with demand being mostly stable.
Ethereum rises over $3,500 as bulls aim for $3,800, supported by 12 weeks in a row of spot ETF inflows.
The RSI rises above the middle line, and XRP gets back to $3.00 support.
Prices of cryptocurrencies are generally going back up on Monday after last week's wild swings and sell-offs. Bitcoin (BTC) fell to a low of $111,886 on Saturday, but it has since picked up speed and is now close to the short-term $115,000 mark.
Ethereum (ETH) and Ripple (XRP), two of the most important cryptocurrencies, are also going up on Monday as risk-on mentality slowly comes back. The ETH token, which is the biggest smart contracts token, is above $3,500 support as bulls press toward the $3,800 goal.
Last week, investors were on edge because of important US economic data, the decision on interest rates, and President Trump's announcement of increased tariffs on Friday.
The CoinShares report says, "The week started off strong, with US$883 million coming in, but this trend changed in the second half of the week, probably because of the hawkish FOMC meeting and a string of better-than-expected US economic data."
According to a CoinShares report that came out on Monday, most crypto investment products saw money leave them, with Bitcoin leading the way with $404 million. Last week, digital investment products lost a total of $223 million.
The basics of Ethereum remained mostly favorable, and linked financial investment instruments had their 15th week in a row of inflows, bringing the total value $134 million. XRP and Solana (SOL) both had net inflows, with XRP getting $31.3 million and Solana getting $8.8 million.
Data highlight: Ethereum is getting spot ETF inflows
Ethereum spot Exchange Traded Funds (ETFs) kept going up, with 12 weeks of inflows in a row. SoSoValue data reveals that $154 million came in last week, which is a lot less than the $1.85 million that came in the week before.
Bitcoin spot ETFs saw outflows for the second day in a row, with an average of $812 million on Friday. The figure below shows that Bitcoin's seven-week bullish run came to an end with outflows of $643 million.
On-chain data from CryptoQuant, on the other hand, reveals that speculative demand is still strong since speculators are still buying BTC even if the price has gone down recently. About 160,000 BTC were bought in the previous 30 days, which shows that there is still a lot of demand for the biggest cryptocurrency by market size.
Bitcoin's price has gone higher for two days in a row after testing support around $111,886 on Saturday. It seems like bulls want to break over the $115,000 barrier right away so they can go on to the second stage of the rebound into the $118,000 round-figure resistance zone.
The Relative Strength Index (RSI) is supporting the trend reversal by moving closer to the midline after stabilizing at 40. If the RSI keeps going up into overbought area, the easiest way to go will still be up.
Even while the short-term outlook is positive, investors should keep an eye on fragile support levels. For example, keep an eye on the 50-day Exponential Moving Average (EMA) at $112,968 and the 100-day EMA at $107,996 in case last week's downturn starts up again.
Update on altcoins: Ethereum and XRP are showing signs of a bull market.
The price of Ethereum has risen for the second day in a row, going up almost 6% from last week's low of $3,350. The coin is presently over $3,549, and bulls want it to advance quickly to the next big obstacle at $3,800.
XRP, on the other hand, is optimistic and traded just over $3.00 on Monday. Institutional interest is still strong, as seen by the $31.3 million that flowed into the financial instruments mentioned above.
If retail interest comes back, the cross-border money transfer token might keep going up until it hits the $3.30 round-figure barrier and then the record high of $3.66.
The RSI supports the healing by going up a little over the midline. Its path into overbought territory might keep speculative demand sustained. Traders should not forget about preliminary support levels, such as the 50-day EMA at $2.79 and the 100-day EMA at $2.58, as they look down.
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