#Crypto Market Rebound

#SOL Price Prediction
#Double Rewards With GUSD
Today's cryptocurrency: Bitcoin holds at $115,000, continuing to accumulate, while Ethereum and XRP maintain their gains:
- The price of Bitcoin rose above $116,000, supported by the demand from whales holding between 100 to 1,000 bitcoins, but then slightly retraced.
- Ethereum continues to rebound above $4500, accompanied by steady inflows from exchange-traded funds.
- XRP has broken through the resistance level of a downward trend line that lasted for three months, confirming the possibility of a rebound towards its historical high of $3.66.
The price of Bitcoin ( BTC ) hovered around $115,000 on Wednesday, having earlier exceeded $116,000, due to increased risk appetite in the broader cryptocurrency market. On the other hand, Ethereum ( ETH ), the largest currency in smart contracts, continued to rebound, surpassing $4,500, with optimists targeting its all-time high of $4,956, reached on August 24.
The attention on Ripple (XRP) remains stable, providing bulls with the opportunity to push the price past the key level of $3.00, with the target being to break the historical high of $3.66, which was reached on July 18.
- Data Focus: Bitcoin whales support price recovery amidst stable institutional demand
The number of Bitcoin wallets holding between 100 to 1,000 Bitcoins has continued to increase, adding over 65,000 Bitcoins in the past seven days, bringing the total holdings of this group to 3.65 million Bitcoins. According to a release by XWIN Research Japan on the trading platform, the demand for Bitcoin has increased, with the current price hovering around $112,000.
Attached is an image of the net position of long-term Bitcoin holders.
The net outflow data from the exchange provides additional clues. Recently, net outflow volume – that is, the withdrawal of Bitcoin from the exchange – has dominated, indicating that investors are moving cryptocurrencies to cold wallets instead of keeping them as liquid assets for trading, according to a report by XWIN Research Japan.
Attached is the image of Bitcoin's net trading flow.
If this trend continues, it could lead to supply shortages, thereby driving up prices. However, a correction can be expected in the short term, especially if the prices of financial derivatives rise excessively.
In addition to large holders, demand for Bitcoin exchange-traded funds ( ETFs ) in the United States also rose this week, reaching a total of $1.7 billion. According to SoSoValue, as of Thursday, the total inflow for all Bitcoin exchange-traded funds ( ETFs ) was $553 million.
Attached is the statistical data image of the Bitcoin fund traded on the exchange.
As investor sentiment improves ahead of the Federal Reserve's interest rate decision next week, demand for Bitcoin and related financial products has the potential to grow, stabilizing the upward trend and moving towards the psychological level of $120,000.
The U.S. Ethereum exchange-traded funds (ETFs) have seen inflows for the third consecutive day, following six days of outflows, reflecting a significant shift in investment trends. The chart below shows that on Thursday, the total daily inflow for Ethereum ETFs reached $113 million, bringing the cumulative net inflow to $12.96 billion and the total net assets to $28.51 billion.
Attached is the statistical data chart of the Ethereum exchange-traded fund.
Meanwhile, individual interest in XRP remains relatively high, having increased compared to last week. Data from CoinGlass indicates that the average open interest for XRP futures contracts on Thursday reached $8.51 billion, up from $7.37 billion on Sunday.
The upward trend of OI indicates that investors are betting on XRP's ability to maintain its historical high of $3.66 reached on July 18.