Bitcoin Rebounds Past $91K as XRP ETFs Continue to Grab Attention
Bitcoin and major tokens experienced a short-term bounce in Asian market hours on Thursday, a move considered by some traders to be temporary. Bitcoin traded near $91,000, extending a period of muted price action despite a supportive backdrop in equities and a softer dollar. The broader crypto market capitalization rose 0.6% to $3.02 trillion, retracing only a fraction of the losses from last week’s downturn.
The dynamic remains the same as crypto trades as an extension of U.S. risk sentiment. A strong Wall Street session briefly lifted digital assets, but sellers re-emerged into Thursday’s close, indicative of how little organic bid exists outside U.S. market hours. This weakness stands out given the favorable macro mix — firmer global risk appetite, easing yields, and better liquidity conditions.
Among majors, Ether climbed 3.1% to $3,030, while XRP added 0.8% and BNB rose 4% as flows rotated into large-cap altcoins after last week’s washout. Solana’s SOL retraced 3.3% and DOGE gained 1.8%, though most majors remained down for the week. Cardano’s ADA slipped 7% over seven days, continuing to underperform the large-cap basket.
XRP ETFs remained a standout. Grayscale’s GXRP pulled $67.4 million on launch day, with Franklin Templeton’s XRPZ adding $62.6 million. Total XRP ETF assets crossed $628 million, absorbing nearly 80 million tokens in 24 hours, making for a stronger initial response than Solana’s ETF debut earlier this year.
Four U.S. spot XRP funds are now live, with Canary’s XRPC leading cumulative inflows at $331 million.
Flows remain the key driver. Anthony Pompliano stated that recent Bitcoin weakness reflects institutional desks reducing exposure into year-end, with volatility and bonus-sensitive risk management prompting de-risking rather than structural bearishness.
Meanwhile, CryptoQuant noted that Bitcoin’s risk-reward profile is the most attractive since mid-2023, often a precursor to accumulation phases rather than sustained capitulation.
Positioning data tells a similar story. Binance’s long-short ratio for major accounts climbed above 3.8, the highest in more than three years, suggesting leveraged traders are leaning into a reversal.
Still, Citi expects Bitcoin to consolidate between $82,000 and $90,000 through early 2026 as post-October sentiment resets.