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    Bitcoin nudges above $90,000 despite market fluctuations and record ETF outflows

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    First Mover reports Bitcoin (BTC) recovered slightly from earlier losses, trading above $90,000. BTC fell over 1% in the past 24 hours, likely due to profit-taking after it surged past $93,000 during the week. Bitcoin ETFs experienced their third-highest ever outflows at $400 million last Thursday, while XRP gained 17% in just 24 hours, outperforming Bitcoin. BTC recently hit the 100-hour SMA, suggesting a potential challenge of the trendline resistance above; a breakout could result in prices above $94,000, a drop could lead to a slide towards the 200-hour SMA at $82,600.

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    This piece was originally published in First Mover, CoinDesk’s daily newsletter that highlights the latest trends in crypto markets. You can subscribe to it to receive it in your inbox every day. Now, let’s look at some recent prices.

    – CoinDesk 20 Index: 2,691.86 (+0.76%)
    – Bitcoin (BTC): $90,386.53 (-1.21%)
    – Ether (ETH): $3,107.30 (-2.48%)
    – S&P 500: 5,949.17 (-0.6%)
    – Gold: $2,568.54 (+0.01%)
    – Nikkei 225: 38,642.91 (+0.28%)

    The latest buzz is that Bitcoin managed to rebound slightly from yesterday’s losses to trade above $90,000 during the European morning. The past 24 hours saw BTC down by over 1%, likely due to investors taking profit after it soared past the $93,000 mark earlier in the week.

    If we look at some top stories, Bitcoin ETFs saw a whopping $400 million in net outflows on Thursday, their third-highest ever, since they were listed in January. On the other end of the spectrum, XRP surged by 17% in just 24 hours to outperform Bitcoin and other majors, partly due to shifting regulations in the U.S.

    Now, let’s analyze the daily chart. BTC has recently hit the ascending 100-hour SMA, accompanied by a positive crossover on the hourly MACD histogram. This suggests that prices might soon challenge the trendline resistance above. If BTC breaks out, we could see records above $94,000. But if the price drops below the 100-hour SMA support, we could see a deeper slide towards the 200-hour SMA at $82,600.

    Some posts that are trending right now are:

    – Aave Gauges Community Interest for Expansion to Bitcoin Layer 2 Spiderchain
    – Trump Names Former SEC Chair Jay Clayton to DOJ Office, the Same Office That Prosecuted SBF
    – Strategic Bitcoin Reserve Has Precedent in Other Big U.S. Government Purchases: Michael Saylor

    That’s all for now, folks! Stay tuned for more updates!

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