Crypto is back in the green, and it’s definitely not a random bounce. A mix of improving sentiment and changing stories around major global players is lifting confidence across risky assets.
While nothing has fundamentally changed overnight, the mood is definitely better.
Prices push higher
As of writing, major cryptos have moved higher.
Bitcoin has held above recent support levels and pushed upward, so buyers are willing to step in. Ethereum has also posted steady gains. However, Ripple [XRP] has been the standout, climbing up and outperforming both BTC and ETH in the short term.
Source: TradingView
What’s interesting here is the lack of panic volume or instability, with the numbers looking more like a cautious buying attempt. Traders are clearly more comfortable taking risks than they were just days ago.
Increased macro support
Recent reports of increased U.S. control over Venezuela’s oil reserves have helped improve the idea of stability.
While this development has no direct link to crypto markets, it feeds into a familiar pattern. When macro risks appear more contained, investors tend to move back into risk assets.
Energy stability reduces inflation concerns and uncertainty around global supply, which can support equities, commodities, and digital assets.
Crypto’s recent strength comes with investors pricing in the possibility of a calmer monetary backdrop.
A new POV
Source: X
Charts tracking major holders show Venezuela’s Bitcoin stash estimated to be nearly double that of the U.S. government. Traders will be actively watching how this portion of the supply affects the greater space.
Source: CoinGlass
Meanwhile, liquidation data looked a tad different: Bitcoin [BTC] and Ethereum [ETH] have seen heavy leverage wiped out over the past 12-24 hours, mostly on the long side.
The liquidations have cleared out excess leverage and reset positions. Buyers are still active, but they are being more cautious.
Final Thoughts
- Crypto prices are rising as risk appetite returns.
- The market looks cautiously constructive.
Source: https://ambcrypto.com/why-is-crypto-up-today-xrp-rallies-as-bitcoin-stabilizes/
