Last Updated on 10/09/2026
- Bitcoin moves modestly higher toward the $80,000 level as investors look ahead to the US Treasury’s announcement regarding the size of further long-term debt buybacks.
- Ethereum climbs back above $2,500, with bullish momentum remaining intact as key moving averages continue to trend upward.
- XRP posts a second consecutive day of gains, supported by a positive RSI signal and strong backing from its 200-day EMA.
Fundamental Analysis
Bitcoin (BTC) continued to trade higher on Wednesday, joining a broader advance across the cryptocurrency market. Ethereum (ETH) has regained the $2,500 level as support, strengthening the case for further upside, while XRP remains on a recovery path near $1.44, supported by major moving averages.
Investor appetite for risk assets remains healthy. The Crypto Fear & Greed Index stood at 66 on Wednesday, slightly lower than Tuesday’s reading of 69 but still firmly within the Greed zone. If this positive sentiment persists, demand for digital assets could remain elevated and provide additional support for the ongoing rally.
Treasury buyback announcement in focus
Markets are closely watching the US Treasury, which is expected to reveal details of its expanded long-term bond buyback program. The move follows an August commitment to at least double the maximum amount of long-dated securities eligible for repurchase.
Based on current issuance levels, the Treasury is projected to sell roughly $924 billion in 10- to 30-year securities annually, including around $480 billion in 10-year notes, $168 billion in 20-year bonds, and $276 billion in 30-year bonds.
When the buyback expansion was first announced last month, financial markets reacted positively. Bitcoin surged beyond $80,000, while Ethereum, XRP, and other altcoins recorded strong gains, helping shift sentiment from bearish to increasingly bullish.
A larger-than-expected buyback announcement could encourage another wave of buying and reinforce the current risk-on environment. However, traders should remain cautious, as recent gains may have already priced in a significant portion of the positive news.
Bitcoin technical outlook
Bitcoin is trading around $79,480, maintaining a bullish tone as it remains comfortably above its key exponential moving averages. The RSI is near 62, indicating continued positive momentum, while the MACD remains below zero, suggesting that upward momentum is still present but has softened following the recent rally.
Immediate support lies near the current trading zone around $79,480. Below that, key support levels are clustered around the 200-day EMA at $72,803, the 50-day EMA at $72,592, and the 100-day EMA at $70,602.
Any pullback toward this support region would likely be viewed as a healthy correction rather than a trend reversal, provided Bitcoin continues to hold above the 200-day EMA.
Ethereum and XRP maintain recovery trends
Ethereum trades near $2,518 and remains firmly above its major moving averages, including the 50-day EMA at $2,216, the 100-day EMA at $2,110, and the 200-day EMA at $2,180. These levels continue to support a constructive near-term outlook.
The RSI around 65 suggests buyers remain in control without reaching overbought territory. Although the MACD remains below zero, the broader trend continues to favor further gains.
For XRP, the token trades close to $1.44 after extending its recent breakout. Price action remains supported by the 50-day and 100-day EMAs at approximately $1.27 and $1.24, while the 200-day EMA near $1.36 has shifted back into a support role.
The RSI remains positive at around 62, while the MACD suggests momentum may be moderating after the latest advance. On the upside, traders are watching resistance levels near $1.50, $1.60, and $1.70. A break above these barriers could strengthen bullish momentum and increase the possibility of XRP moving back toward the $2.00 mark.
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