• Bitcoin struggles for direction above $71,000 as supply around $73,000 caps its upside potential.
• Ethereum holds above the key 50-day EMA support at around $2,150, buoyed by inflows into spot ETFs.
• XRP remains in a dominant downward trend, as weak technicals and ETF outflows weigh.

The cryptocurrency market has largely taken a breather on Friday after the United States (US) and Iran agreed to a ceasefire, which lifted sentiment and triggered a broader price recovery.

Bitcoin (BTC) hovers above $71,000 but holds below its weekly peak of $73,145. Bulls appear intent on securing a higher support ahead of a potential breakout toward the psychological $80,000 threshold.

Altcoins, including Ethereum (ETH) and Ripple (XRP), are also struggling for direction, with ETH trading below $2,200 and XRP hovering under $1.35.

Despite the ceasefire in the Middle East, market sentiment has remained suppressed. The crypto Fear & Greed Index is reading 16 in extreme fear territory on Friday, up from 14 the previous day. If sentiment does not improve, risk-off mood could weigh on crypto assets, limiting recovery potential.

On the macroeconomic and geopolitical front, Pakistan is preparing to host the ceasefire talks between US officials, led by Vice President J.D. Vance, and the Iranian delegation, led by Foreign Minister Abbas Araghchi and Parliament Speaker Mohammad Bagher Ghalibaf, over the weekend. Senior figures from Iran’s Revolutionary Guard are also expected to attend the talks in Islamabad.

The outcome of the negotiations amid a fragile ceasefire could shape the market sentiment in the coming days. So far, Bitcoin holds roughly 4% above its weekly open of $69,034, underscoring the positive impact of the ceasefire.

Institutional interest favors Bitcoin and Ethereum ETFs, XRP sees outflows

Interest in crypto investment products generally improved on Thursday, with inflows of roughly $358 million into Bitcoin spot Exchange-Traded Funds (ETFs). Cumulative inflows currently stand at $56.50 billion, with net assets under management averaging $93.29 billion.

Ethereum spot ETFs, similarly, recorded inflows totaling $85 million on Thursday, breaking a two-day bearish streak, after seeing outflows of nearly $19 million on Wednesday and approximately $65 million on Tuesday. Cumulative inflows currently stand at $11.60 billion, with net assets under management averaging $12.69 billion.

Meanwhile, XRP ETFs remain on the back foot, as risk appetite deteriorates further. As Bitcoin and Ethereum ETFs posted inflows on Thursday, US-listed XRP spot ETFs experienced outflows of roughly $661,000. Moreover, activity remained muted on Wednesday, with zero flows recorded. Cumulative inflows currently stand at $1.21 billion, with net assets under management averaging $955 million.

Chart of the day: Bitcoin extends sideways trading above key support

Bitcoin is trading at $71,616 and holds above the 50-day Exponential Moving Average (EMA) at $70,587. Still, the price is capped well below the 100-day EMA at $75,438 and the 200-day EMA near $83,808. This configuration suggests a limited or neutral-to-bearish bias, with price caught between short-term support and heavier medium-term supply overhead.

Momentum is constructive, as the Moving Average Convergence Divergence (MACD) indicator remains in positive territory with a healthy histogram on the daily chart, while the Relative Strength Index (RSI) hovers around 58, hinting that buyers retain some control but lack a clean structural breakout.

On the topside, Bitcoin's initial resistance is seen near the downward trendline around $73,830, which now serves as the first important barrier, followed by the 100-day EMA at $75,438 and then the more distant 200-day EMA at $83,808. On the downside, the 50-day EMA at $70,587 marks immediate support. A daily close beneath this floor would likely expose a deeper pullback below $70,000, while sustained trading above it would keep the door open for another attempt to challenge the $73,830 zone.

Altcoins update: Ethereum and XRP upside limited

Ethereum trades at $2,182 at the time of writing on Friday, holding within a constrained outlook with the price sitting above the 50-day EMA at $2,153 but remains well beneath the 100-day EMA at $2,360 and the 200-day EMA at $2,689. This configuration suggests only a tentative recovery within a broader corrective phase, even as the MACD indicator holds in positive territory on the daily chart and the RSI near 56 hints at steady, but not overextended, bullish momentum.

On the topside, ETH's immediate resistance lies in the descending trendline area around $2,278, where sellers could first reassert control, followed by the 100-day EMA at $2,360. A sustained break above this latter barrier would be needed to ease the broader bearish pressure and expose the distant 200-day EMA near $2,689. On the downside, the 50-day EMA at $2,153 provides initial support, where a daily close back below this level would weaken the current bounce and open the door to a deeper pullback toward prior lows. On the other hand, holding above it keeps scope for another test of the $2,278 area.

As for XRP, the price hovers around $1.34, maintaining a bearish near-term bias that holds below major moving averages. The 50-day EMA at $1.42, the 100-day EMA at $1.57, and the 200-day EMA near $1.83 all sit overhead, suggesting rallies are likely to be capped while the pair remains entrenched beneath this layered dynamic resistance.

Momentum is mixed, with the MACD indicator hovering marginally below zero on the daily chart and the RSI slipping around 45, hinting that upside attempts lack strong conviction despite a slight improvement in MACD.

On the topside, XRP's initial resistance is at the pivotal $1.40 level, where the first major supply zone is likely to form. A daily close above that barrier would open the way toward the 50-day EMA at $1.42, followed by the 100-day EMA at $1.57, with the descending trendline acting as a more distant hurdle.

With no clear structural supports defined in the current dataset, failure to build a base above $1.33 would keep XRP vulnerable to further downside extension, leaving traders focused on how the price reacts to the nearby overhead EMAs to gauge whether the prevailing bearish structure can begin to ease.

(The technical analysis of this story was written with the help of an AI tool.)