After the total market capitalization of the crypto market rose to $3.01 trillion, market focus has shifted from broad gains to structural divergence. Foreign media note that Bitcoin, Ethereum, and XRP are in different positions, with short-term momentum diverging; whether capital is flowing from Bitcoin to altcoins has become the key focus over the coming days.
The daily trading volume of the crypto market is currently approximately $141.8 billion. Bitcoin is trading at $85,980.96, Ethereum at $2,750.36, and XRP at $1.54.
Bitcoin rose above its previous high, then cooled off.
Foreign media reported that Bitcoin briefly reached $87,000 this week, breaking through the resistance level of approximately $82,814 near May. Some analysts believe this indicates the market has re-entered an uptrend. However, after a sustained rise, Bitcoin has shown signs of short-term cooling, with its price pulling back to around $85,500.
The article states that Bloomberg ETF analyst James Seyffart noted that the average cost for Bitcoin ETF holders is approximately $81,722 and has recently returned above cost basis. This suggests that if the price remains stable, spot Bitcoin ETFs could once again attract capital inflows, potentially benefiting major funds, including those managed by BlackRock.
Ethereum tests $2,800 again
Ethereum is currently trading near $2,800, a level that has repeatedly acted as both support and resistance since 2024. External media consider this level a key boundary for ETH’s near-term price movement.
The article states that if Ethereum can effectively hold above $2,800, the next target may be $3,300. However, before a breakout is confirmed, the market is more likely to experience a period of consolidation rather than continuing upward in a straight line.
XRP is still testing its previous high.
Compared to Bitcoin and Ethereum, XRP’s current price action is considered less crowded. The article notes that long-term charts shared by trader Peter Brandt indicate a target of $5.40. In the short term, XRP is rebounding from support near $1.30 and moving toward resistance at $1.60.
XRP is currently still testing its previous high around $1.52 to $1.53, without yet achieving a clearer breakout like Bitcoin. Foreign media suggest that XRP may first experience a short-term slowdown, but the overall bullish outlook remains intact.
Funds may shift to altcoins
The article suggests that a key theme in today’s market is capital rotation. As Bitcoin shows signs of cooling off at elevated levels, some analysts anticipate that liquidity may gradually shift toward Ethereum, XRP, and other altcoins. This pattern is not uncommon in the early stages of previous bull markets, typically occurring after Bitcoin completes its first rapid upward move.
Foreign media also noted that the dominance of USDT has continued to decline, which some market participants view as a sign of capital re-entering the crypto asset space. If this trend continues, activity in the altcoin sector may further increase.