Cryptocurrencies Price Prediction: Bitcoin, PI & Crypto – European Wrap 6 February
|Bitcoin Weekly Forecast: The worst may be behind us
Bitcoin (BTC) price recovers slightly, trading at $65,000 at the time of writing on Friday, after reaching a low of $60,000 during the early Asian trading session. The Crypto King remained under pressure so far this week, posting three consecutive weeks of losses exceeding 30%. Institutional demand for BTC continues to weaken, pointing to a third consecutive week of withdrawals.
Pi Network Price Forecast: PI hits record low despite plans to deploy KYC validator rewards in March
Pi Network (PI) trades above $0.1400 at press time on Friday, recovering from a record low of $0.1300 registered earlier in the day. The PI token's price extends its recent decline amid the broader cryptocurrency market crash and despite the recent announcement of plans to distribute rewards to Know-Your-Customer (KYC) validators.
Crypto: Too early to be greedy
The crypto market cap has lost more than 8% in the last 24 hours to $2.22T, dropping to $2.09T at its lowest point. The Crypto fell below last April's lows and rolled back to levels last seen in September 2024. The market did not hold on to the strong line that had served as support and resistance for more than two years. Either this is a switch to panic mode, or we saw a short-term overreaction during a period of reduced liquidity, and cryptocurrencies will partially rebound in the coming days.
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