Selling Pressure Eased…Bitcoin, Ethereum, XRP All Rebound

▲ Bitcoin (BTC), Ethereum (ETH), XRP (XRP)/ChatGPT generated image ©

As Bitcoin holds just shy of $80,000, Ethereum and XRP are also rebounding, signaling a 'quiet recovery' across the overall market.

According to investment media FXStreet on May 4 (local time), Bitcoin (BTC) is trading around $79,765, attempting to break above $80,000, while Ethereum (ETH) continues its upward trend for five consecutive trading days at $2,361. XRP (Ripple) has recovered to $1.41, appearing to secure support above its 50-day exponential moving average.

In the derivatives market, a resurgence of risk appetite is observed. Bitcoin futures open interest has steadily increased to $58.63 billion, up from $57.74 billion the previous day and $53.96 billion last Friday. Analysis suggests that if funds continue to flow in, the likelihood of breaking the $80,000 resistance level is gradually increasing.

Ethereum is also seeing expanding demand in the derivatives market. Futures open interest increased to $31.69 billion, up from $30.95 billion the previous day, confirming a recovery in demand primarily driven by retail investors. However, it remains significantly lower than its historical peak of $70.13 billion, and the uptrend is assessed as gradual and moderate.

In contrast, XRP's derivatives demand is relatively limited. Open interest stands at approximately $2.5 billion, significantly lower than the $10.94 billion recorded in July 2025, indicating that market confidence in the sustainability of a short-term rally is still lacking. This is interpreted as a reflection of retail investor sentiment not yet fully recovering.

Technically, the trends are mixed. Bitcoin maintains an upward structure, trading above its 50-day and 100-day moving averages, but resistance at the 200-day moving average of $81,894 remains. For Ethereum, the $2,400 and $2,571 ranges act as major resistance. For XRP, whether it can break through the $1.51 and $1.74 ranges is identified as a key variable determining its medium-term direction. Overall, selling pressure has eased, but the sentiment suggests that further confirmation is needed for a full transition to an uptrend.

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