Institutional Funds Flooded Only into Bitcoin... Ethereum and Ripple Struggle to Rebound

▲ Bitcoin (BTC), Ethereum (ETH), XRP (XRP)/ChatGPT Generated Image ©

Bitcoin (BTC) showed a recovery above $63,000, bolstered by spot ETF inflows, while Ethereum (ETH) and XRP (Ripple) remained trapped below key resistance levels, failing to escape bearish pressure.

According to investment media FXStreet on August 4 (local time), Bitcoin moderately rose above $63,000 due to investors' renewed risk appetite. Ethereum traded above its short-term support of $1,800 but was pressured below the $1,900 supply zone, and XRP showed limited movement below $1.10 while maintaining $1 as support.

Institutional funds moved into Bitcoin. According to SoSoValue, US Bitcoin spot ETFs saw a net inflow of $170 million on Monday, reversing from a net outflow of approximately $265 million last Friday. In contrast, Ethereum spot ETFs saw an outflow of $11.42 million, ending a two-day consecutive net inflow streak. XRP spot ETFs recorded a net inflow of $1.15 million for four consecutive trading days, but this was a significant decrease from $7.69 million last Friday. The cumulative net inflow was tallied at $1.15 billion, with net assets at $1.01 billion.

Bitcoin traded at $63,588, falling below its 50-day exponential moving average (EMA) of $64,644, 100-day EMA of $67,132, and 200-day EMA of $72,673. The Moving Average Convergence Divergence (MACD) showed a weak trend in the negative zone, and the Relative Strength Index (RSI) recorded a neutral level of 48. In case of a decline, the SuperTrend support level of $61,034 acts as a defense, and to rebound, it must first reclaim $64,644. Subsequent resistance levels are $67,132 and $72,673.

Ethereum traded at $1,857, barely above its 50-day exponential moving average of $1,851, but remained below its 100-day EMA of $1,928. The Relative Strength Index was around 50, showing no clear direction, and the MACD histogram fell further below the zero line, indicating a risk of further decline. If $1,851 breaks, it could fall to the SuperTrend support level of $1,741. Conversely, if it breaks above $1,928, the 200-day EMA of $2,153 will act as the next resistance level.

XRP traded at $1.07, falling below its 50-day, 100-day, and 200-day exponential moving averages of $1.12, $1.20, and $1.39, respectively. The price was also below the Bollinger Band midline of $1.09, and the Relative Strength Index was around 45, with the MACD showing a slight negative value, indicating the possibility of selling pressure during a rebound. If $1.05 breaks, the risk of further decline increases, and to recover, it must sequentially break above $1.09 and $1.12. Subsequent resistance levels are $1.14, $1.20, and $1.39.

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