Cryptocurrencies Price Prediction: Bitcoin, Flare & Crypto – European Wrap 23 July
|Bitcoin Price Forecast: BTC rejected from $120,000 as momentum cools, mild ETF outflows continue
Bitcoin (BTC) trades slightly down to near $118,000 when writing on Wednesday after testing the upper boundary of a consolidation range near $120,000 earlier in the day. The decline comes amid a second consecutive day of outflows this week from US-listed spot Bitcoin Exchange Traded Funds (ETFs), signaling cautious sentiment among institutional investors. The technical outlook also suggests a short-term correction, as momentum indicators show signs of exhaustion.
Flare Price Forecast: FLX surges 10% as network expands XRP DeFi use cases
Flare (FLR) price is surging higher, trading at $0.0261 on Wednesday, supported by a robust Decentralized Finance (DeFi) ecosystem. Interest in the token exploded after the network announced the final launch of a suite of tools, making the non-smart contracts token XRP, issued by Ripple, DeFi-ready.
Crypto Today: Bitcoin, Ethereum, XRP show weakness, but rising Open Interest depicts bullish speculation
Cryptocurrencies are showing signs of weakness overall, with leading assets, including Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP), edging lower at the time of writing on Wednesday. A 3.5% decline in the total market capitalization to $3.9 trillion over the past 24 hours underscores the overhead pressure possibly due to profit-taking.
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