XRP ‘probably going to $12,’ Bitcoin ETFs add $1B: Market Moves

Bitmine’s Tom Lee says ‘crypto spring’ has already begun

Bitmine Immersion Technologies chairman Tom Lee said the cryptocurrency market may already be entering the early stages of a rebound.

In a note on Monday, Lee said that, similar to previous cycles, investor sentiment has been muted despite strengthening crypto prices. 

“Crypto spring, in our view, has commenced and like past cycles, investor sentiment and conviction are muted and bearish even as crypto prices strengthen. We believe the potential passage, or even failure, of the CLARITY Act confirms the arrival of crypto spring,” he added.

Crypto investors have seen more than half a year of depressed crypto prices since the October 2025 crash. Analysts have been debating when a meaningful rebound would occur.

Lee said that the drivers behind crypto, and particularly Ethereum, are still strong.

Bitcoin short-term holder cost basis eyes $92K as next price target

Bitcoin (BTC) buyers resumed their activity mid-week, pushing the price to a new multi-month high of $82,240.

Onchain indicators, including the short-term holder (STH) cost basis, suggested that BTC could rise further, with the next big target at $92,000. 

Data from TradingView showed that BTC/USD had risen 37% to trade above $82,000 from its multi-month low of $60,000 reached on Feb. 6.

This rally pushed Bitcoin back above the cost basis of its short-term holders, currently at $79,000, according to Glassnode data.

STH cost basis refers to the average purchase price of investors who have held Bitcoin for less than 155 days.

Historically, reclaiming this level has coincided with extended recovery phases, as investors returning to profit are often less inclined to sell and more willing to add exposure. The shift can also attract fresh buyers and trigger short squeezes as bearish positioning unwinds.

Bitcoin ETFs add nearly $1B as BTC surges past $80K in multi-day rally

Spot Bitcoin (BTC) exchange-traded funds (ETFs) pulled in almost $1 billion in inflows after the cryptocurrency reclaimed $80,000 this week.

Bitcoin ETFs posted $467.4 million of inflows on Tuesday as BTC surged past $81,000, extending Monday’s $532 million inflows, according to SoSoValue data, bringing the two-day total to more than $999 million.

The latest inflows follow April’s $1.97 billion in total net inflows, pointing to strong demand as Bitcoin’s rebound continues.

Since May 1, the funds have attracted a total of $1.63 billion in inflows, bringing cumulative inflows to $59.7 billion and total assets under management to roughly $109 billion, the highest level so far this year. 

XRP ‘probably going to $12’ as price holds historical bottom zone for months

XRP (XRP) tested a key long-term support level that has historically preceded major rebounds, according to a monthly chart shared by analyst MikybullCrypto.

Milkybull’s chart showed XRP trading inside a rising channel that has guided price action since 2014. XRP was near the channel’s lower trend-line around $1.30–$1.40, a zone that previously acted as a launchpad for large upside moves.

The analyst said XRP is “probably going to $12” a level that roughly aligns with the channel’s midpoint.

Momentum indicators support the rebound thesis. XRP’s monthly relative strength index (RSI) cooled toward a historical support area near 40–45, similar to levels that appeared before past rallies.

Bitcoin market dominance moves above 61%: Will altcoins follow?

Bitcoin dominance climbed to 61% on Wednesday, its highest level since November 2025. The metric has risen from 58.44% at the start of April, proving that the bullish trend continues to favor BTC over the wider crypto market.

In the last two months, altcoin volumes on Binance also increased by 49%, while 12.6% of altcoins on Binance reclaimed their 200-day simple moving average (SMA). 

Crypto analyst Darkfost said Bitcoin has gained 36% since its Feb. 6 lows at $60,000, helping push its dominance to 61.3%. 

While altcoins spent much of that period under pressure, TOTAL3, which tracks the crypto market cap excluding Bitcoin and Ether, rose by 17% to a two-month high of $765 billion. 

The recovery pace of altcoins lagged behind BTC, but several indicators began showing signs of improvement.

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Ciaran Lyons

Ciaran Lyons is a Cointelegraph staff writer covering cryptocurrency markets and conducting interviews within the digital asset industry. He has a background in mainstream media and has previously worked in Australian broadcast journalism, including roles in national radio and television. Prior to joining Cointelegraph, Lyons was involved in media projects across news, documentary, and entertainment formats. He holds Solana, Ski Mask Dog, and AI Rig Complex above Cointelegraph’s disclosure threshold of $1,000.