Bitcoin, Ethereum, XRP and Solana show monthly buy signals on TD Sequential

Bitcoin, Ethereum, XRP, and Solana have once again become the focal point of the crypto market after simultaneously flashing monthly buy signals on the TD Sequential indicator. This development has fueled speculation that a long-term bottom might be forming across leading cryptocurrencies; however, analysts warn that the indicator alone does not guarantee the start of a sustained rally.

Unified technical signal emerges

Crypto market analyst Ali Martinez reported that all four major cryptocurrencies triggered a TD Sequential buy signal on the monthly chart. Used primarily on higher timeframes, this indicator aims to spot moments when the prevailing trend is losing steam and the stage may be set for a reversal.

Glossary: The TD Sequential, developed by market analyst Tom DeMark, is a technical indicator designed to identify moments when trends are becoming exhausted and a possible reversal is imminent, using specific counting sequences.

It is rare for all four major cryptos to show monthly buy signals at the same time. This technical improvement has fostered cautious optimism in the market, especially after the sharp volatility seen in recent weeks.

Latest on prices and futures markets

According to data from CoinMarketCap, Bitcoin was trading at $59,947.31, Ethereum at $1,615.92, XRP at $1.05, and Solana at $77.45. Analysts note that these large-cap assets are presenting a more positive picture compared to earlier market turbulence.

CoinGlass data shows the open interest in Bitcoin futures on Binance stands at $8.50 billion. Open interest for Ethereum has reached $21.99 billion. XRP and Solana report figures of $2.31 billion and $5.58 billion, respectively. This data suggests that interest in the derivatives market persists, indicating continued engagement from traders and investors.

ETF flows reflect ongoing caution

US spot Bitcoin ETFs saw net outflows totaling $222.60 million on July 1. Despite this, the total net inflows since these products launched have reached $51.59 billion. This pattern shows that while some investors are taking short-term profits, the broader trend has not been completely disrupted.

Spot Ethereum ETFs, meanwhile, recorded a net outflow of 16,715.33 ETH on June 30. Although institutional players continue to display caution, sentiment around longer-term demand remains upbeat.

In the coming weeks, if Bitcoin, Ethereum, XRP, and Solana manage to hold above current price levels, strengthen ETF inflows, see a rise in open interest, and log increased buying volumes, the probability of a broader crypto market recovery will likely increase.

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