BTC and ETH Recover as Market Eyes 115K Test
BTC and ETH prices rebound amid ETF outflows. Traders watch for 115K BTC test ahead of Friday’s NFP report.
- BTC and ETH prices rebound after last week’s dip
- Market holds steady despite ETF outflows
- Traders eye 115K BTC as open interest climbs
Bitcoin (BTC) and Ethereum (ETH) have made a strong recovery following last week’s sharp correction. BTC is now trading around $112,000, while ETH has climbed to $4,100, signaling renewed market strength despite lingering concerns.
This rebound comes at a time when ETF outflows continue to pressure the market. Still, spot prices have remained resilient, suggesting that long-term holders and retail investors remain confident in the broader trend.
Leverage and Open Interest on the Rise
A key sign of growing market momentum is the sharp increase in perpetual futures leverage and open interest. These indicators suggest that traders are preparing for potential volatility, especially with the upcoming Non-Farm Payroll (NFP) report due this Friday.
Historically, major macroeconomic events like the NFP tend to trigger increased volatility in crypto markets, as traders react to U.S. employment data and its impact on monetary policy. The growing leverage could magnify these moves, particularly for BTC, which has already posted a 3% gain this month.
BTC Eyes 115K Resistance as Next Major Test
As Bitcoin continues its climb, $115,000 is emerging as a crucial resistance level. A successful breakout above this threshold could pave the way for a stronger bullish move, especially if macroeconomic data favors risk assets.
Ethereum’s price movement is also being closely monitored. While it trails behind BTC in terms of market impact, its return above $4,000 is a positive signal for altcoin investors.
Despite short-term uncertainties, the overall tone of the market remains cautiously optimistic, with traders looking to Friday’s data release for the next big move.
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