Bitcoin continues its recovery above $111,000, supported by strong and steady retail demand. Ethereum buyers are fighting to break above the 100-day EMA amid ongoing ETF outflows, while XRP is rebounding as its technical outlook improves, supported by a fresh MACD buy signal.
Bitcoin (BTC) extended its gains for the second consecutive day, trading above $111,000 as of Friday. The steady rally from the weekly low of $106,666 reflects a gradual improvement in overall market sentiment across the crypto space.
Major altcoins, including Ethereum (ETH) and Ripple (XRP), are showing moderate bullish momentum heading into the weekend, fueled by consistent retail demand. Ethereum is holding above $3,900, while XRP is trading around $2.45 at the time of writing.
Data Highlight: Retail Demand Fuels Bitcoin’s Momentum
The Bitcoin derivatives market has remained relatively stable over the past two weeks following the large deleveraging event on October 10 that wiped out $19 billion in crypto assets. BTC futures open interest (OI) is averaging around $69 billion, down from $90 billion on October 10. This marks a modest recovery from Thursday’s low of $67.70 billion, signaling improving retail interest.
Open interest represents the notional value of unsettled futures contracts. A steady increase in OI often indicates growing trader confidence and rising risk appetite, supporting Bitcoin’s price recovery.
Meanwhile, XRP saw a notable jump in weighted funding OI rates — climbing from 0.0032% on Wednesday to 0.0059% on Friday. This increase shows traders are re-entering the market with more confidence, taking long positions and strengthening the short-term bullish setup.
Ethereum, however, continues to face heavy institutional outflows. On Thursday alone, U.S.-based Ethereum ETFs recorded $128 million in net outflows. Fidelity’s FETH ETF saw $77 million in outflows, followed by BlackRock’s ETHA ETF with $23 million.
Apart from Tuesday’s net inflow of $142 million, Ethereum ETFs have recorded daily outflows since October 16 — reflecting a lack of short-term confidence in ETH’s recovery.
Bitcoin Technical Outlook: Buyers Targeting Key Resistance
Bitcoin’s price is extending gains above $111,000 as risk appetite slowly returns to the crypto market. A bullish crossover on the Relative Strength Index (RSI) and its current position at 47 on the daily chart suggest that bullish momentum is building.
Traders should also watch for a potential MACD buy signal on the daily timeframe. A bullish MACD crossover — where the blue MACD line crosses above the red signal line — typically signals growing buying pressure and increased risk appetite.
Buyers are now targeting a daily close above the 100-day Exponential Moving Average (EMA) at $112,675 and the 50-day EMA at $113,352 to confirm short-term bullish momentum heading into the weekend.
However, caution remains warranted amid ongoing trade tensions between the U.S. and China. A wave of profit-taking could trigger a pullback below $110,000. The 200-day EMA at $108,113 is expected to act as a key support level if selling pressure accelerates.
Altcoin Update: Ethereum and XRP Edge Higher
Ethereum is slowly gaining momentum toward the $4,000 level as buyers battle resistance at the 100-day EMA near $3,964. This marks its second consecutive day of gradual recovery as bulls try to regain control.
The RSI is moving toward 45, indicating fading short-term bearish momentum. A sustained push above the midline could strengthen the bullish outlook and increase the likelihood of a breakout above $4,000. If the MACD confirms a buy signal in the coming sessions, more buyers may step in, adding fuel to the rally.
However, if traders take early profits, a correction may follow. Key support zones remain at $3,680 and the 200-day EMA at $3,575.
As for XRP, buyers have taken control of the daily trend, pushing prices above $2.45 at press time. The RSI at 43 is trending higher, supporting a short-term bullish outlook with the 200-day EMA at $2.61 as the next resistance target.
Meanwhile, MACD has already flashed a bullish signal, suggesting further upside in the coming sessions. Still, caution is advised as market sentiment remains fragile. Weak technical signals could quickly trigger profit-taking and a reversal toward support levels at $2.40 and $2.18.
Frequently Asked Questions About Bitcoin, Altcoins & Stablecoins
What is Bitcoin?
Bitcoin is the world’s largest cryptocurrency by market capitalization. It’s a decentralized digital currency designed to function as money, enabling peer-to-peer transactions without the need for third-party intermediaries like banks or payment processors. Its decentralized nature makes it resistant to censorship and centralized control.
Summary:
* Bitcoin extends its rally above **$111K**, supported by **growing retail demand**.
* XRP shows **strong technical recovery**, boosted by MACD buy signals.
* Ethereum faces **ETF outflows**, but price action remains resilient above $3,900.
* Key resistance levels for BTC: **$112,675 (100-day EMA)** and **$113,352 (50-day EMA)