Cryptocurrencies Price Prediction: Bitcoin, SUI & Crypto – European Wrap 24 February
|Bitcoin Price Forecast: BTC falls to two-week low as ETF outflows, tariff chaos weigh
Bitcoin (BTC) price extends losses, trading below $64,000 at the time of writing on Tuesday, ending its sideways trend as selling pressure gets renewed. The institutional demand started the week on a negative note, recording withdrawals on Monday, while Strategy (MSTR) bought the recent dips. The broader sentiment remains risk-off as growing uncertainty over US President Donald Trump’s new tariff announcement and rising US-Iran tensions put a lid on the Crypto King, increasing downside risks toward $60,000.
Sui Price Forecast: SUI capitulates under pressure, opens the door to $0.70
Sui (SUI) declines by 3% at press time on Tuesday, extending the downside breakout of a short-consolidation range confirmed the previous day. Retail sentiment is bearish, as evidenced by increased long liquidations and a sharp drop in the funding rate. The technical outlook indicates a possibility of a steeper correction to the $0.70 level.
Crypto: Capitulation or double bottom?
The crypto market cap continues to decline, losing nearly 5.5% over the past 24 hours to $2.19 trillion, practically repeating the extremes of early February. The last time the market was consistently lower was in September 2024. If there is a rebound by the end of the day, we can talk about the formation of a double bottom, which will give hope for a rebound of about 10%. However, a failure to rebound will signal the end of the recovery, opening the potential for a further 25% decline to the 2023 consolidation range.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.