Cryptocurrency Today: Slight Increase in Bitcoin, Ethereum, and XRP Prices Amid Decreased Selling Activity and Steady Retail Demand

Bitcoin (BTC) is trading near the $80,000 mark, rising in tandem with major alternative cryptocurrencies, including Ethereum (ETH) and Ripple (XRP), as of this report on Monday. Ethereum remains above $2,350, continuing its five-day upward trend, while Ripple has regained support above $1.40.

- Derivatives Market Expands Amid Improved Risk Appetite:
Bitcoin shows notable signs of recovery with stable capital flows across derivatives, as evidenced by the open interest in perpetual futures rising to $58.63 billion on Monday, compared to $57.74 billion the previous day and $53.96 billion on Friday. If interest in derivatives remains strong, Bitcoin’s upward trajectory and prospects of breaking the $80,000 resistance level appear well-supported.

Daily Trading Data for Bitcoin Futures | Source: CoinGlass

Retail investors are increasingly interested in Ethereum derivatives, pushing open interest in futures contracts to $31.69 billion on Monday, up from $30.95 billion the day before. Although this is below the record high of $70.13 billion recorded in August, it is an improvement from the yearly low of $22.89 billion seen in February. This indicates that growth remains normal, potentially supporting steady price increases.

Open Trading Data for Ethereum Futures | Source: CoinGlass

Turning to XRP, demand for derivatives remains weak compared to Bitcoin and Ethereum, with an average open interest of only $2.5 billion on Monday. This is a stark contrast to the peak of $10.94 billion in July, highlighting ongoing skepticism among retail investors regarding XRP’s ability to sustain a short- to medium-term upward trend.

Daily Trading Data for XRP Futures | Source: CoinGlass