Bitcoin holds above $93K amid ETF turbulence
Bitcoin (BTC) is holding above its short-term support at $93,000 as of Thursday, despite faltering institutional demand and ETF outflows. The uptrend from Monday’s low of $83,822 remains intact, but the long-awaited breakout to $100,000 may face headwinds, especially due to weak retail interest.
Meanwhile, altcoins such as Ethereum (ETH) and Ripple (XRP) are struggling to sustain their recovery, likely due to early profit-taking.
Spot Bitcoin ETFs operating in the United States recorded nearly $15 million in outflows on Wednesday, ending a five-day streak of consecutive inflows. BlackRock’s IBIT was the only ETF to see inflows, attracting approximately $42 million, while 21Shares’ ARKB posted the largest outflow at $37 million, according to SoSoValue.
Ethereum spot ETFs saw a strong rebound with $140 million in inflows on Wednesday, following two days of outflows totaling $89 million. The cumulative net inflow volume stands at $13 billion, with net assets of $19.7 billion as of December 3.
XRP ETFs continue to attract steady inflows, signaling growing investor interest in altcoin-based investment products. On Wednesday, United States-listed XRP ETFs recorded $50 million in inflows, extending a 13-day positive streak. Cumulative inflows now total $874 million, with net assets of $906 million.
Bitcoin remains above $93,000, with bulls attempting to regain control and close the gap toward $100,000. The MACD indicator has maintained a buy signal since November 26, suggesting that bearish momentum is fading. The RSI is poised to close above the neutral line, reinforcing short-term bullish sentiment.
However, Bitcoin is still trading below key moving averages:
50-day EMA: $98,501
100-day EMA: $103,648
200-day EMA: $104,527
A reversal below $90,000 could shift the trend downward toward $80,000.
Ethereum is trading above $3,200, supported by renewed ETF inflows and mildly positive market sentiment. The RSI at 52 has entered bullish territory, and the MACD continues to show a buy signal. However, ETH remains below key EMAs:
50-day EMA: $3,361
200-day EMA: $3,476
100-day EMA: $3,560
A drop below $3,000 remains possible unless Ethereum flips the 50-day EMA into support.
XRP is trading below its descending EMAs:
50-day EMA: $2.31
100-day EMA: $2.47
200-day EMA: $2.49
The MACD histogram is mildly positive, and the RSI at 47 suggests limited momentum. The SuperTrend resistance at $2.40 continues to block recovery attempts.