Bitcoin (BTC) price continues to trade in green above $91,500 at the time of writing on Thursday after rebounding from the key support level. On the institutional front, a modest inflow into US-listed spot Bitcoin Exchange Traded Funds (ETFs) signals a reduction in selling pressure and further support BTC’s recovery. However, traders should still be cautious as on-chain data highlights BTC’s market drifting lower amid limited inflows and fragile liquidity. 

Institutional demand for Bitcoin shows a reduction in selling pressure. According to SoSoValue data, US-listed spot Bitcoin ETFs recorded a mild inflow of $21.12 million on Wednesday, after a positive flow of $128.64 million the previous day. However, these inflow intensities are not as strong as the outflow streak recorded last week. For BTC to continue its recovery, the inflow trend should persist and intensify.

Cardano (ADA) is trading around $0.43 at the time of writing on Thursday, after recovering nearly 7% so far this week. The recovery is further supported by ADA’s large whale orders and buy-side dominance, which have risen alongside positive funding rates. On the technical side, ADA’s price action suggests a further rebound targeting levels above the $0.50 mark.

CryptoQuant’s summary data underpins the bullish outlook, as Cardano’s spot and futures markets show large whale orders, cooling conditions, and buy dominance. These factors signal a potential recovery in the upcoming days.

Tether CEO Paolo Ardoino blasted S&P Global Ratings for downgrading USDT, rejecting the agency’s assessment that the stablecoin is backed by high-risk assets and accusing traditional finance of misunderstanding Tether’s model.

Tether CEO Paolo Ardoino issued a sharp rebuttal to S&P Global Ratings following the agency’s downgrade of USDT’s peg stability assessment on Wednesday. He described the rating as a sign of “loathing” that the company “wears with pride.”