---
title: "Bitcoin At $80,000, But Ethereum, XRP, Dogecoin Lose Steam After Short Sell Squeeze Fades"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/285540691.md"
description: "Bitcoin remains above $80,000, bolstered by $46.3 million in ETF inflows, while Ethereum and other cryptocurrencies like XRP and Dogecoin are losing momentum. Ethereum ETFs saw $11.6 million in inflows but failed to maintain above $2,400. Analysts suggest Bitcoin has absorbed bearish liquidity, with support levels around $70,000 to $75,000. XRP is near a support zone, with potential for a rebound, while Solana shows strength despite volatility. Overall, the crypto market is experiencing mixed performance, with Bitcoin leading the way."
datetime: "2026-05-07T11:07:44.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/285540691.md)
  - [en](https://longbridge.com/en/news/285540691.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/285540691.md)
---

# Bitcoin At $80,000, But Ethereum, XRP, Dogecoin Lose Steam After Short Sell Squeeze Fades

Bitcoin continues to hold above $80,000 as Bitcoin ETFs saw $46.3 million in net inflows on Wednesday, while Ethereum ETFs reported $11.6 million in net inflows.

**  
Cryptocurrency**

**  
Ticker**

**  
Price**

**Bitcoin**

(CRYPTO: BTC)

$80,700.61

**Ethereum**

(CRYPTO: ETH)

$2,321.05

**Solana**

(CRYPTO: SOL)

$89.05

**XRP**

(CRYPTO: XRP)

$1.40

**Dogecoin**

(CRYPTO: DOGE)

$0.1109

**Shiba Inu**

(CRYPTO: SHIB)

$0.056333

Meme coin market capitalization is trading 1.4% higher to $39.8 billion over the past 24 hours.

**Trader Commentary:** 

Crypto chart analyst Ali Martinez said Bitcoin appears to have absorbed bearish liquidity positioned between $80,000 and $84,000, suggesting short sellers in that range may have been squeezed out.

Focus is now shifting to lower levels, where liquidity clusters worth more than $55 million remain concentrated around $75,000, $73,000 and $70,000. These areas could act as important support zones or potential price-attraction levels if Bitcoin retraces.

Ted Pillows said Ethereum failed to reclaim and hold above the $2,400 level, with weak spot buying pressure continuing to weigh on performance. Without stronger demand, he believes ETH may continue lagging the broader crypto market.

MikybullCrypto noted XRP is trading near a major support zone that could spark a strong rebound if maintained. Some bullish scenarios project a move toward $12 in the next major market cycle, though such a rally would require significantly stronger momentum and broader market support.

Trader Julian described Solana as one of the stronger assets in the crypto market despite recent volatility. He highlighted the $85 level as key support and said a sustained move above $90, especially if Bitcoin remains strong, could lead to another upward leg.

_Image: Shutterstock_

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