Crypto Markets Rebound—Here’s Why Bitcoin, Ethereum, XRP Prices are Rising Today
The post Crypto Markets Rebound—Here’s Why Bitcoin, Ethereum, XRP Prices are Rising Today appeared first on Coinpedia Fintech News
The crypto markets experienced some relief as the selling pressure eased over the major cryptos. The market capitalisation recovered above $2.4 trillion, while the volume dropped close to $200 billion from the highs around $306 billion during the sell-off. The crypto ETF also turned positive after 2 to 3 days of continuous outflow. The market dynamics suggest a shift in favour of the bulls, but the sentiments remain under extreme fear, indicating that the traders and the investors remain in disbelief.
Why is Bitcoin Price Rising?
Bitcoin is rising after a sharp rebound from intraday lows, driven by exhausted selling and forced short covering rather than fresh bullish news. BTC price is trading near $69,942, up 7.68% on the day, after bouncing from a low of $64,459 to an intraday high of $71,681. The recovery followed an extreme momentum reset, with RSI climbing to 32.2 from 15.82, a level that often signals panic selling has peaked.
Derivatives data show the move was mechanically fueled. Open interest rose to $58.6 billion, pointing to new positions entering after the flush. Liquidations also skewed toward the downside, with short liquidations at roughly $384 million, compared to $299 million in long liquidations, forcing late sellers to buy back into the move.
Ethereum & XRP Followed Bitcoin Price Recovery
ETH price is trading around $2,072, up 7.75%, after rebounding from a $1,865 low to a $2,115 intraday high. The move followed extreme downside pressure, with RSI recovering from 18.66 to near 30, a level that often marks seller exhaustion. Derivatives positioning picked up alongside the bounce, as open interest rose from $22.89 billion to $25.16 billion, suggesting fresh participation after the flush rather than long-term accumulation.
XRP price trades near $1.45, up 10.74%, after climbing from $1.29 to $1.54. RSI jumped from 17.05 to the mid-30s, while open interest increased from $2.4 billion to $2.63 billion, pointing to speculative flows rather than confirmed trend strength. XRP is also among the top performers among the top 10 cryptos, with over a 30% rise from the lows close to $1.12.
What to Expect from the Crypto Markets This Weekend
As the market heads into the weekend, Bitcoin will remain the key driver, especially after its sharp rebound and leverage reset. With BTC RSI still below neutral and price sitting near reclaimed intraday levels, weekend action is likely to be range-bound and volatility-driven rather than trend-defining.
Ethereum and XRP have rebounded more aggressively, but both moves were fueled by oversold bounces and rising open interest, which increases the risk of choppy price action in thinner liquidity. Traders should watch for failed retests and funding shifts, as weekend sessions often favor stop-hunts and partial retracements before a clearer direction emerges early next week.
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